Within his recently unveiled personal account, called Ithaki, the ex- prime minister Tsipras does not hold back while he examines that chaotic era during Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's version, he appointed that unorthodox academic Yanis Varoufakis as his finance minister largely due to his international reputation and Varoufakis's very persuasive abilities when it came to public orator.
“He was, actually, more like a star rather than an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader claims how Varoufakis had a personal agenda which involved promoting Varoufakis's books as well as experimenting with his own theories using Greece rather than genuinely fighting for its economic stability.
Tsipras noted how the talks to prevent insolvency were “not just a method of achieving a better deal for the country. They were an experiment, an historic opportunity to demonstrate the validity of his economic theories.”
High-Stakes Talks
During volatile discussions, the country found itself dangerously close to exiting the single currency area.
On the line was both Greece's destiny but also those punishing cutbacks demanded in exchange for bailout funds from international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, such as a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum and Reversal
In July 2015, those harsh bailout terms were put to a public vote, a move that threw the EU into a further existential crisis.
Even though the vote was won resoundingly by those against the cuts, the prime minister was forced but to reject its outcome then negotiate a rescue deal from creditors that turned out to be tougher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who drew media attention, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency and distributing vouchers to pensioners, Tsipras said he realised that it was the end and asked him: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras asserts that Varoufakis had proved himself “unfit for an agreement demanding complex and delicate management.”
Tsipras further claimed that Varoufakis's aggressive style left him increasingly isolated with colleagues, put Greece at risk, and helped hardliners who were pushing for Grexit.
The account of events has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
