Within his newly released personal account, named Ithaki, the former leader Tsipras does not hold back while he examines the turbulent period during Greece's financial crisis.
A Controversial Appointment
In Tsipras's version, he selected the unorthodox academic Yanis Varoufakis to be the treasury head primarily because of the latter's worldwide fame along with his highly compelling skills when it came to speaker.
“In reality, he was, truthfully, more like a star rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras claims that Varoufakis had his own agenda that included advancing Varoufakis's publications and testing out his game theories on Greece instead of truly advocating its financial survival.
Tsipras noted how the negotiations to prevent insolvency were “not only a way of achieving improved terms for the country. They became a test, a monumental chance to demonstrate the truth of Varoufakis's theories.”
Critical Talks
During volatile discussions, Greece found itself perilously on the brink of exiting the eurozone.
At stake lay not only Greece's destiny but also the harsh austerity policies required in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive bailout terms were subjected to a public vote, a move which threw Europe into a deeper existential crisis.
Although the referendum was carried decisively by voters who opposed the cuts, Tsipras was forced to ignore the result then negotiate a rescue deal from creditors which turned out to be more severe.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who drew publicity, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency as well as distributing vouchers to retirees, the leader knew that it was the end and asked him: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for a deal that required intricate and sensitive handling.”
He further claimed how Varoufakis's aggressive style left him more and more alone among peers, endangered the country, and helped hardliners who were pushing for Grexit.
The account of events has provoked anger along with stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet on the matter.
