Within his newly released memoir, titled Ithaki, the former leader Tsipras does not hold back as he reflects on that turbulent era during Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's version, Tsipras selected that maverick economist Yanis Varoufakis as the finance minister largely because of the latter's global profile along with Varoufakis's “extremely attractive” skills when it came to speaker.
“He was, truthfully, more of a star rather than an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader claims how Varoufakis had a personal motives that included advancing Varoufakis's publications as well as experimenting with his game theories using Greece instead of truly fighting for the country's financial survival.
Tsipras noted that those discussions to avoid insolvency became “not just a method of achieving improved terms for the country. They became a test, an historic opportunity to demonstrate the validity of his ideas.”
High-Stakes Talks
During rollercoaster discussions, Greece found itself perilously on the brink of exiting the eurozone.
At stake lay not only the country's destiny and those harsh austerity policies required in exchange for bailout funds by international creditors.
Unsuccessful Options
Efforts to secure funds from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, the harsh bailout terms were subjected to a public vote, a move that threw Europe into a further crisis of identity.
Even though the vote was won resoundingly by those against austerity, the prime minister had little option but to reject its outcome then negotiate a rescue deal with foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy that included creating a parallel currency and distributing vouchers to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author concludes that Varoufakis demonstrated himself “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras also wrote that his aggressive style made him more and more alone among peers, endangered the country, while assisted hawks who were advocating a Greek exit from the euro.
The account of events has provoked fury and stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
