Within his freshly published personal account, named Ithaki, the former premier Tsipras does not hold back while he revisits that turbulent era of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's account, he selected that unorthodox academic Varoufakis as his finance minister primarily due to his worldwide fame along with Varoufakis's very persuasive abilities as a public orator.
“He was, actually, more like a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how Varoufakis had a personal motives which involved advancing his publications as well as experimenting with his economic models using Greece rather than genuinely fighting for the country's financial survival.
Tsipras noted how the discussions to prevent bankruptcy became “not only a way to secure a better deal for the country. They became an experiment, a monumental opportunity to demonstrate the validity of his theories.”
Critical Talks
During rollercoaster discussions, Greece came dangerously close to leaving the eurozone.
On the line lay not only Greece's destiny but also those punishing austerity measures demanded in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those harsh bailout terms were put to a popular referendum, an action that plunged Europe into further existential crisis.
Even though the vote was won decisively by those against the cuts, Tsipras was forced but to ignore the result then agree to a rescue deal with foreign lenders which turned out to be more severe.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the man who attracted publicity, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan that included creating a secondary currency as well as distributing coupons to pensioners, the leader knew that it was the end and asked him: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author asserts that Varoufakis had proved himself “unfit for a deal that required complex and sensitive management.”
Tsipras further wrote that Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
The retelling of events has provoked anger and shock among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.
