In a freshly published autobiography, titled Ithaki, the ex- premier Tsipras spares no criticism while he examines that turbulent era during Greece's debt drama.
An Unconventional Appointment
In Tsipras's account, he appointed that maverick academic Varoufakis as his finance minister primarily due to the latter's global profile and Varoufakis's highly compelling skills as a speaker.
“In reality, he was, in reality, more like a personality and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras suggests that his finance chief had his own motives which involved promoting Varoufakis's publications and experimenting with his game theories on Greece rather than truly advocating its economic stability.
He wrote how the discussions to stave off insolvency became “not only a method to secure a better deal for the country. They were a test, an historic chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid tense discussions, Greece found itself perilously on the brink of leaving the eurozone.
On the line lay not only Greece's destiny but also the harsh austerity measures required in exchange for financial aid by international creditors.
Failed Alternatives
Attempts to find funds from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the punitive bailout terms were subjected to a popular referendum, a move which threw Europe into a deeper crisis of identity.
Even though the referendum was carried decisively by voters against the cuts, Tsipras was forced to reject its outcome and negotiate a rescue deal from foreign lenders which turned out to be more severe.
Breaking Point
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the covers of magazines the world over … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan that included creating a parallel currency as well as issuing vouchers to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and sensitive management.”
He also claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, while helped hawks that were advocating Grexit.
This retelling of history has provoked fury and shock among certain groups, while the former minister has so far maintained a deafening silence on the matter.
