Within his newly released memoir, named Ithaki, the former leader Tsipras spares no criticism as he reflects on the turbulent era during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's account, he appointed the maverick academic Yanis Varoufakis to be his finance minister largely because of the latter's international reputation and Varoufakis's “extremely attractive” skills as a public orator.
“He was, truthfully, more of a personality and less of an economist,” wrote Tsipras.
Clashing Priorities
Tsipras suggests how Varoufakis had his own motives that included promoting his publications and testing out his own game theories on Greece instead of truly fighting for its financial survival.
He noted that the discussions to avoid insolvency were “not just a way to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”
High-Stakes Talks
Amid tense negotiations, the country found itself perilously close to exiting the single currency area.
On the line lay both the country's future and the harsh austerity policies demanded in exchange for bailout funds from foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece was equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, a move that plunged the EU into a further crisis of identity.
Although the vote was carried decisively by voters who opposed the cuts, the prime minister was forced to reject its outcome then negotiate a rescue deal from foreign lenders which proved to be tougher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan involving creating a secondary currency as well as distributing coupons to pensioners, Tsipras knew it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, Tsipras concludes that his former ally had proved himself to be “unfit for an agreement demanding intricate and delicate management.”
He further wrote that his aggressive approach made him increasingly isolated among peers, put Greece at risk, and helped hardliners that were pushing for a Greek exit from the euro.
The account of history has been met with anger and stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.