Within his recently unveiled personal account, called Ithaki, the former premier Tsipras spares no criticism while he examines the chaotic period of Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's account, Tsipras selected the unorthodox academic Varoufakis as his treasury head mainly because of the latter's worldwide fame and his highly compelling skills when it came to public orator.
“He was, truthfully, more like a star and less of an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges that his finance chief possessed his own agenda that included advancing his books and testing out his economic models on Greece rather than truly advocating the country's economic stability.
He noted that those talks to stave off bankruptcy were “not just a way of achieving improved terms for the country. They became an experiment, a monumental chance to prove the truth of Varoufakis's theories.”
Critical Talks
Amid tense negotiations, Greece found itself perilously on the brink of leaving the eurozone.
On the line lay both Greece's future but also those severe austerity policies required in return for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those punitive conditions were put to a popular referendum, a move that plunged the EU into a deeper crisis of identity.
Although the referendum was carried resoundingly by those against the cuts, Tsipras was forced to reject its outcome then negotiate a bailout package from foreign lenders which proved to be tougher.
Final Straw
Tsipras claimed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy that included creating a secondary currency and issuing coupons to retirees, Tsipras said he realised it was game over and asked him: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras asserts how Varoufakis had proved himself “unfit for a deal demanding complex and sensitive handling.”
Tsipras also wrote that Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
The account of events has provoked anger along with shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
