Within his recently unveiled autobiography, named Ithaki, the former leader Tsipras spares no criticism while he revisits that turbulent era during Greece's financial crisis.
A Controversial Appointment
In the ex-PM's account, he selected the unorthodox economist Varoufakis to be the treasury head mainly due to the latter's global profile along with Varoufakis's “extremely attractive” skills when it came to speaker.
“He was, actually, more of a personality rather than an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras alleges how Varoufakis had his own motives that included promoting Varoufakis's publications as well as experimenting with his economic models on Greece instead of truly advocating its economic stability.
Tsipras noted how the discussions to prevent insolvency were “not just a way to secure improved terms for the country. They became a test, a monumental chance to prove the truth of his economic theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, the country found itself dangerously on the brink of leaving the single currency area.
At stake lay not only the country's future but also those harsh austerity policies required in return for financial aid by foreign lenders.
Failed Options
Efforts to find funds elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those harsh conditions were subjected to a popular referendum, an action that plunged Europe into further crisis of identity.
Although the referendum was won resoundingly by those against the cuts, the prime minister was forced but to reject its outcome and negotiate a rescue deal from creditors that turned out to be even harsher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who drew publicity, who graced the covers of publications globally … it seemed he relished his new role.”
After the minister outlined a backup strategy that included establishing a secondary currency as well as distributing coupons to retirees, Tsipras knew that it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras asserts how his former ally demonstrated himself to be “unfit for an agreement that required complex and delicate management.”
He also wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, while helped hardliners who were pushing for Grexit.
This retelling of history has provoked fury and shock in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
