Within his recently unveiled personal account, named Ithaki, the former prime minister Tsipras does not hold back while he reflects on the chaotic era of Greece's economic turmoil.
A Controversial Choice
As per Tsipras's account, Tsipras chose the unorthodox academic Varoufakis to be his finance minister mainly because of his worldwide fame along with Varoufakis's very persuasive skills as a communicator.
“In reality, he was, truthfully, more of a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras alleges how Varoufakis had his own agenda that involved promoting his publications and experimenting with his game theories on the nation instead of truly advocating the country's financial survival.
Tsipras noted that the discussions to stave off bankruptcy became “not just a way of achieving improved terms for Greece. They were a test, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
During tense negotiations, the country came perilously close to exiting the eurozone.
On the line lay both the country's future but also the severe cutbacks required in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, those harsh bailout terms were subjected to a popular referendum, a move which threw Europe into further existential crisis.
Even though the referendum was carried decisively by voters against the cuts, Tsipras was forced to ignore the result then negotiate a rescue deal from creditors which turned out to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew media attention, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
When the minister outlined a backup strategy that included establishing a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, the author asserts that Varoufakis had proved himself “unsuitable for an agreement that required complex and delicate handling.”
Tsipras further claimed that Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hardliners who were pushing for Grexit.
This account of history has provoked anger along with shock in some quarters, while Varoufakis has kept a deafening silence on the matter.
