Within his newly released memoir, titled Ithaki, the former prime minister Tsipras spares no criticism as he examines the chaotic period during Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's recollections, Tsipras chose that unorthodox economist Yanis Varoufakis to be the finance minister primarily due to his global profile along with his very persuasive skills when it came to public orator.
“He was, in reality, more of a star rather than an economist,” stated Tsipras.
Conflicting Agendas
Tsipras alleges how his finance chief had his own motives which involved advancing Varoufakis's books as well as experimenting with his own economic models on Greece rather than truly advocating the country's financial survival.
Tsipras wrote how those negotiations to prevent bankruptcy became “not only a way of achieving a better deal for Greece. They were an experiment, an historic opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
During volatile negotiations, the country came perilously close to leaving the single currency area.
At stake was both the country's future and those punishing cutbacks demanded in return for bailout funds by foreign lenders.
Failed Options
Attempts to secure financing from other sources, including an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Referendum and Reversal
In July 2015, those harsh conditions were subjected to a public vote, an action which plunged Europe into a deeper crisis of identity.
Although the vote was carried decisively by voters against austerity, the prime minister had little option to reject its outcome then negotiate a rescue deal from foreign lenders that proved to be even harsher.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the public image of negotiation, the figure who drew publicity, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan involving establishing a secondary currency and distributing coupons to retirees, Tsipras knew it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for a deal that required complex and sensitive management.”
Tsipras also wrote how his aggressive style made him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were pushing for Grexit.
This retelling of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.
