In a freshly published personal account, named Ithaki, the former prime minister Tsipras spares no criticism as he examines that turbulent era of Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's account, Tsipras selected the unorthodox academic Yanis Varoufakis as the treasury head mainly because of the latter's international reputation along with Varoufakis's very persuasive abilities as a speaker.
“In reality, he was, actually, more of a star and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader claims how his finance chief possessed his own motives that included promoting Varoufakis's publications and experimenting with his own game theories on Greece instead of genuinely advocating the country's economic stability.
Tsipras explained how the talks to prevent bankruptcy became “not only a method to secure a better deal for the country. They were an experiment, an historic chance to demonstrate the validity of his economic theories.”
Critical Negotiations
Amid volatile negotiations, the country came dangerously close to leaving the eurozone.
At stake lay both Greece's future and the punishing austerity policies required in return for rescue loans from international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were subjected to a public vote, an action which threw Europe into further existential crisis.
Even though the referendum was won decisively by those against the cuts, Tsipras was forced but to reject its outcome and negotiate a rescue deal with creditors that proved to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the covers of publications globally … it seemed he was enjoying his new role.”
After the minister proposed a backup strategy involving creating a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, the author asserts that his former ally demonstrated himself “unfit for an agreement demanding intricate and delicate management.”
Tsipras further wrote how Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, while helped hawks that were advocating Grexit.
This retelling of events has provoked anger and shock in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
