In a recently unveiled autobiography, named Ithaki, the ex- prime minister Tsipras does not hold back while he revisits the turbulent period of Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's version, he selected that maverick academic Varoufakis to be the treasury head mainly because of his global profile along with his “extremely attractive” skills as a communicator.
“He was, in reality, more of a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader claims that his finance chief had a personal motives that included promoting Varoufakis's publications as well as testing out his economic models on Greece instead of truly fighting for the country's financial survival.
Tsipras wrote that the talks to stave off insolvency became “not just a way of achieving a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country came perilously on the brink of leaving the eurozone.
On the line was not only the country's destiny and those severe austerity measures demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to find financing from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, those excoriating conditions were put to a popular referendum, a move that plunged Europe into a further crisis of identity.
Although the vote was carried decisively by those who opposed austerity, the prime minister was forced to ignore the result then agree to a bailout package from foreign lenders which proved to be more severe.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who attracted publicity, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency and issuing coupons to pensioners, the leader said he realised that it was game over and asked him: “Are you serious?”
Lasting Rebuke
In the book, the author asserts that his former ally demonstrated himself “unfit for an agreement demanding complex and sensitive handling.”
He also wrote that Varoufakis's aggressive approach left him more and more alone with colleagues, endangered the country, while assisted 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, while Varoufakis has maintained a conspicuous quiet regarding these claims.
