Within his newly released personal account, named Ithaki, the ex- leader Tsipras spares no criticism as he examines the chaotic period during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's version, Tsipras selected that unorthodox academic Yanis Varoufakis as the treasury head primarily because of his international reputation and his “extremely attractive” abilities as a communicator.
“In reality, he was, in reality, more like a personality rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader alleges that his finance chief possessed a personal motives that involved advancing his publications as well as testing out his own theories using Greece instead of truly fighting for its financial survival.
He wrote that the negotiations to avoid bankruptcy were “not just a method to secure a better deal for Greece. They were an experiment, an historic opportunity to prove the validity of his theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself dangerously on the brink of exiting the eurozone.
At stake was both Greece's future but also those punishing austerity measures required in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the punitive bailout terms were subjected to a public vote, a move that threw the EU into further crisis of identity.
Although the referendum was won decisively by voters against austerity, the prime minister had little option to reject its outcome and agree to a bailout package with foreign lenders which proved to be more severe.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency and issuing vouchers to retirees, Tsipras knew it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, the author concludes that Varoufakis had proved himself “unsuitable for a deal demanding complex and delicate management.”
He further wrote that Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
This retelling of history has been met with anger and stunned disbelief among certain groups, while the former minister has maintained a conspicuous quiet on the matter.