Within his newly released memoir, titled Ithaki, the ex- leader Tsipras spares no criticism while he reflects on that chaotic period during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's version, Tsipras selected the maverick economist Yanis Varoufakis as the treasury head primarily due to his global profile and Varoufakis's highly compelling abilities when it came to communicator.
“He was, actually, more of a star and less of an economist,” stated Tsipras.
Conflicting Priorities
The former leader claims that his finance chief had a personal agenda that included promoting his publications and experimenting with his theories on Greece rather than genuinely fighting for its economic stability.
He explained how those discussions to avoid bankruptcy became “not only a way of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country came perilously close to leaving the single currency area.
On the line lay both Greece's destiny but also those severe austerity measures required in exchange for bailout funds from foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, the harsh bailout terms were put to a popular referendum, an action which threw Europe into a further existential crisis.
Even though the referendum was won resoundingly by voters who opposed the cuts, Tsipras was forced to ignore the result then agree to a bailout package from foreign lenders that turned out to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy involving establishing a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was game over questioning him: “Are you serious?”
Lasting Rebuke
In the book, Tsipras asserts that his former ally demonstrated himself “unfit for an agreement that required intricate and sensitive management.”
Tsipras further claimed how Varoufakis's aggressive style left him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
The account of events has provoked anger and shock in some quarters, while Varoufakis has maintained a deafening silence regarding these claims.
