In a freshly published autobiography, called Ithaki, the former premier Tsipras pulls no punches as he examines that turbulent period during Greece's debt drama.
A Controversial Choice
As per the ex-PM's recollections, he appointed that maverick academic Varoufakis as his treasury head largely because of his global profile and his “extremely attractive” abilities as a communicator.
“He was, in reality, more like a celebrity rather than an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras suggests that Varoufakis possessed a personal agenda which involved advancing Varoufakis's books as well as testing out his game theories using the nation instead of truly fighting for the country's financial survival.
He wrote that the talks to prevent insolvency were “not just a method to secure improved terms for the country. They were a test, an historic chance to prove the validity of his theories.”
Critical Talks
Amid rollercoaster negotiations, the country found itself perilously close to exiting the eurozone.
On the line was not only the country's destiny and those harsh austerity policies demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to secure financing elsewhere, such as a desperate appeal to Russia to buy Greek bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, the punitive bailout terms were put to a public vote, an action which plunged the EU into a further crisis of identity.
Even though the referendum was won resoundingly by voters who opposed the cuts, Tsipras had little option to reject its outcome and negotiate a rescue deal with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency as well as issuing coupons to pensioners, Tsipras knew it was the end and asked him: “Is this for real?”
Enduring Criticism
In the book, Tsipras concludes how his former ally demonstrated himself “unsuitable for a deal that required complex and sensitive management.”
He also claimed how Varoufakis's aggressive style left him more and more alone among peers, endangered the country, while helped hawks who were pushing for Grexit.
The retelling of events has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.
