Within his freshly published personal account, named Ithaki, the ex- leader Tsipras does not hold back as he reflects on that chaotic era during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras selected that unorthodox academic Yanis Varoufakis as the treasury head largely due to his worldwide fame along with Varoufakis's highly compelling skills when it came to communicator.
“In reality, he was, actually, more like a star and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges how Varoufakis had his own motives which included promoting Varoufakis's publications and experimenting with his own theories on the nation instead of truly advocating its economic stability.
Tsipras noted that those negotiations to stave off bankruptcy were “not only a way of achieving improved terms for Greece. They became an experiment, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Talks
Amid volatile negotiations, Greece came dangerously close to exiting the single currency area.
At stake lay both the country's future but also the punishing austerity measures required in return for rescue loans from international creditors.
Unsuccessful Options
Attempts to find financing from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the excoriating conditions were subjected to a popular referendum, a move which plunged Europe into further existential crisis.
Although the vote was won decisively by those who opposed austerity, the prime minister had little option but to ignore the result then negotiate a rescue deal with creditors that turned out to be more severe.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a contingency plan involving creating a secondary currency and issuing vouchers to pensioners, Tsipras said he realised it was game over and asked him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras concludes that Varoufakis had proved himself to be “unfit for an agreement demanding complex and sensitive management.”
Tsipras further wrote how Varoufakis's aggressive approach made him more and more alone among peers, put Greece at risk, and assisted hardliners who were pushing for Grexit.
The account of history has been met with anger along with shock in some quarters, while the former minister has so far maintained a conspicuous quiet regarding these claims.
