In a newly released autobiography, called Ithaki, the ex- leader Tsipras spares no criticism as he examines that chaotic period during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's version, Tsipras selected that maverick academic Yanis Varoufakis as his finance minister primarily because of his worldwide fame along with his very persuasive abilities when it came to speaker.
“He was, in reality, more like a personality and less of an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests how Varoufakis had his own motives which included advancing his publications and testing out his theories using Greece rather than truly fighting for the country's financial survival.
Tsipras wrote how those discussions to prevent insolvency were “not just a method of achieving a better deal for the country. They became an experiment, an historic opportunity to prove the truth of his theories.”
Critical Talks
During volatile discussions, Greece found itself dangerously on the brink of exiting the eurozone.
At stake was both the country's future and the severe austerity policies required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, including a desperate appeal to Russia to buy Greek bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, a move that threw the EU into deeper existential crisis.
Although the referendum was carried resoundingly by those against the cuts, the prime minister was forced to ignore the result then negotiate a rescue deal from foreign lenders which proved to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew media attention, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency as well as issuing coupons to pensioners, Tsipras knew it was game over questioning him: “Is this for real?”
Lasting Criticism
In the memoir, the author concludes that his former ally demonstrated himself to be “unfit for a deal that required complex and delicate management.”
Tsipras also wrote that Varoufakis's aggressive approach made him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
The account of events has been met with anger and stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.
