Within his recently unveiled memoir, titled Ithaki, the ex- leader Tsipras pulls no punches as he revisits the chaotic era during Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's recollections, Tsipras appointed that maverick economist Varoufakis as the treasury head primarily because of the latter's global profile along with Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, actually, more like a celebrity rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests that his finance chief had a personal motives that involved advancing his books as well as testing out his own economic models using Greece instead of genuinely fighting for its economic stability.
He wrote how those discussions to prevent insolvency were “not only a way to secure a better deal for Greece. They were a test, a monumental chance to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile negotiations, the country found itself dangerously on the brink of exiting the eurozone.
At stake lay not only the country's destiny and the punishing austerity policies required in exchange for rescue loans by foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, the harsh conditions were put to a public vote, an action that threw Europe into further crisis of identity.
Although the referendum was carried resoundingly by those against austerity, the prime minister was forced but to reject its outcome and agree to a rescue deal from foreign lenders which proved to be more severe.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the front pages of publications globally … he gave the impression he relished his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency as well as issuing vouchers to retirees, the leader said he realised that it was game over and asked him: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras asserts that Varoufakis had proved himself to be “unfit for an agreement demanding intricate and sensitive management.”
Tsipras also claimed that Varoufakis's confrontational style left him more and more alone among peers, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
This account of events has provoked fury along with shock among certain groups, while Varoufakis has maintained a conspicuous quiet on the matter.
