In a recently unveiled autobiography, called Ithaki, the ex- prime minister Tsipras does not hold back while he examines the turbulent period of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's account, Tsipras appointed that unorthodox economist Varoufakis to be the finance minister mainly because of the latter's international reputation and his highly compelling skills when it came to public orator.
“In reality, he was, actually, more like a personality and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests that Varoufakis possessed a personal motives that involved promoting his publications as well as testing out his own economic models using Greece instead of genuinely fighting for its economic stability.
Tsipras explained how those talks to stave off bankruptcy became “not only a method to secure a better deal for the country. They became a test, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid volatile negotiations, Greece found itself perilously close to exiting the eurozone.
At stake lay not only the country's destiny and those severe cutbacks demanded in return for rescue loans by international creditors.
Failed Options
Efforts to find financing elsewhere, including a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those punitive bailout terms were put to a popular referendum, a move that plunged Europe into deeper crisis of identity.
Although the referendum was carried resoundingly by voters who opposed austerity, the prime minister had little option but to reject its outcome then negotiate a bailout package with creditors which proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who attracted publicity, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan that included establishing a parallel currency as well as issuing coupons to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author concludes that Varoufakis had proved himself to be “unsuitable for a deal that required intricate and delicate management.”
Tsipras also claimed that Varoufakis's confrontational style made him more and more alone among peers, endangered the country, while helped hawks that were pushing for Grexit.
The retelling of events has been met with fury and shock among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.