In a newly released personal account, called Ithaki, the former premier Tsipras spares no criticism as he reflects on the turbulent period during Greece's economic turmoil.
A Controversial Choice
In Tsipras's account, he selected that unorthodox economist Varoufakis as his finance minister largely because of the latter's global profile along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more of a star and less of an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader claims how Varoufakis had his own agenda which involved advancing Varoufakis's books and experimenting with his own theories on Greece instead of truly fighting for the country's financial survival.
He explained that the talks to prevent bankruptcy were “not only a method to secure a better deal for Greece. They were a test, an historic opportunity to prove the validity of his ideas.”
High-Stakes Talks
Amid tense discussions, the country found itself perilously on the brink of leaving the eurozone.
At stake lay not only Greece's destiny and those severe austerity measures demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the excoriating conditions were subjected to a popular referendum, an action that plunged the EU into a further crisis of identity.
Although the vote was won decisively by those against austerity, Tsipras had little option but to ignore the result then negotiate a bailout package from creditors that proved to be more severe.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who drew media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished the spotlight.”
After Varoufakis outlined a backup strategy involving creating a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised it was the end and asked him: “Is this for real?”
Lasting Criticism
Within the memoir, the author concludes that his former ally demonstrated himself “unfit for a deal that required complex and delicate management.”
Tsipras also claimed how Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were advocating a Greek exit from the euro.
This account of history has been met with anger and shock in some quarters, while the former minister has so far maintained a conspicuous quiet regarding these claims.