Within his newly released personal account, named Ithaki, the former prime minister Tsipras spares no criticism while he reflects on the turbulent era of Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's version, he chose the unorthodox economist Yanis Varoufakis as the treasury head mainly because of his worldwide fame and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
Tsipras suggests how Varoufakis had his own agenda that involved advancing Varoufakis's books as well as testing out his own theories using the nation rather than truly fighting for its economic stability.
He wrote how those negotiations to prevent insolvency became “not just a method of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the validity of his economic theories.”
Critical Talks
Amid rollercoaster discussions, Greece found itself dangerously on the brink of exiting the single currency area.
At stake was both the country's future and the harsh cutbacks demanded in return for bailout funds by international creditors.
Unsuccessful Options
Efforts to find funds from other sources, including an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, those harsh conditions were put to a public vote, a move that threw the EU into deeper existential crisis.
Even though the referendum was won resoundingly by those against the cuts, the prime minister had little option to reject its outcome then negotiate a rescue deal with foreign lenders which proved to be tougher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan involving establishing a parallel currency and issuing vouchers to pensioners, the leader knew it was game over and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, the author concludes how Varoufakis had proved himself “unsuitable for a deal that required complex and delicate management.”
Tsipras further claimed that his confrontational style left him more and more alone among peers, endangered the country, while helped hardliners who were advocating Grexit.
The retelling of history has provoked fury and stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet on the matter.