Within his recently unveiled memoir, titled Ithaki, the ex- leader Tsipras spares no criticism as he reflects on the turbulent era during Greece's debt drama.
An Unconventional Choice
In Tsipras's recollections, he chose the maverick economist Varoufakis as his finance minister primarily due to his international reputation along with his very persuasive skills when it came to public orator.
“In reality, he was, truthfully, more of a star and less of an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras claims that his finance chief possessed his own motives which included promoting his publications and experimenting with his own game theories using the nation instead of genuinely advocating the country's financial survival.
He wrote how those negotiations to prevent insolvency became “not only a way to secure improved terms for the country. They were an experiment, an historic chance to prove the truth of his economic theories.”
Critical Talks
Amid rollercoaster negotiations, the country found itself perilously on the brink of exiting the single currency area.
On the line was not only the country's destiny and the punishing cutbacks required in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, those punitive conditions were put to a public vote, an action which threw the EU into deeper existential crisis.
Although the referendum was won resoundingly by voters who opposed the cuts, the prime minister was forced to reject its outcome and negotiate a rescue deal from creditors which proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan that included creating a parallel currency and issuing vouchers to retirees, the leader knew it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, the author asserts that Varoufakis demonstrated himself “unsuitable for a deal that required complex and sensitive management.”
Tsipras further claimed that Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
This account of events has been met with anger along with stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence on the matter.
