Within his newly released autobiography, named Ithaki, the former premier Tsipras spares no criticism as he reflects on the turbulent era during Greece's economic turmoil.
A Controversial Choice
In the ex-PM's account, Tsipras chose the unorthodox academic Varoufakis as his finance minister largely due to his international reputation along with Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, actually, more of a star rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims that Varoufakis had his own agenda that involved advancing Varoufakis's publications and experimenting with his theories on the nation rather than genuinely advocating the country's financial survival.
Tsipras noted that those talks to avoid insolvency were “not just a way of achieving improved terms for Greece. They became a test, an historic chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
During tense negotiations, the country came dangerously close to leaving the single currency area.
At stake lay both Greece's destiny and the harsh cutbacks demanded in exchange for rescue loans from international creditors.
Failed Options
Efforts to secure funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those harsh bailout terms were subjected to a public vote, an action which plunged the EU into a further crisis of identity.
Even though the referendum was won resoundingly by those who opposed the cuts, Tsipras had little option to reject its outcome then negotiate a bailout package from foreign lenders that proved to be more severe.
Final Straw
Tsipras claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew publicity, who graced the front pages of publications globally … he gave the impression he relished his new role.”
After the minister proposed a contingency plan involving creating a parallel currency and distributing vouchers to pensioners, Tsipras said he realised it was game over and asked him: “Is this for real?”
Enduring Rebuke
In the book, the author concludes how Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and sensitive handling.”
He further wrote that Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, while assisted hawks that were pushing for a Greek exit from the euro.
This retelling of events has been met with anger and shock among certain groups, while the former minister has so far maintained a conspicuous quiet on the matter.
