Within his recently unveiled autobiography, called Ithaki, the ex- leader Tsipras pulls no punches as he examines that chaotic era of Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's version, Tsipras chose the unorthodox economist Varoufakis as his treasury head largely due to his international reputation and his very persuasive skills when it came to speaker.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims how his finance chief possessed a personal agenda which included advancing his publications and experimenting with his own game theories on the nation instead of genuinely advocating its financial survival.
Tsipras explained how those discussions to stave off insolvency became “not only a method of achieving improved terms for Greece. They became a test, a monumental opportunity to prove the validity of his economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country came perilously close to exiting the single currency area.
On the line lay both the country's future but also those severe austerity policies demanded in exchange for bailout funds by foreign lenders.
Failed Options
Attempts to secure funds from other sources, such as an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those harsh bailout terms were subjected to a public vote, an action that plunged Europe into a deeper existential crisis.
Even though the referendum was carried resoundingly by those against austerity, the prime minister was forced but to ignore the result then agree to a bailout package with creditors which proved to be more severe.
Final Straw
The ex-PM revealed that he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the man who drew media attention, who appeared on the covers of publications globally … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan involving establishing a parallel currency and distributing coupons to pensioners, Tsipras knew it was the end and asked him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts that Varoufakis demonstrated himself “unfit for a deal that required complex and sensitive management.”
He also wrote how his confrontational approach made him more and more alone with colleagues, endangered the country, while helped hardliners who were pushing for Grexit.
This account of history has provoked anger and stunned disbelief in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
