Within his freshly published memoir, titled Ithaki, the former prime minister Tsipras spares no criticism while he revisits the turbulent era during Greece's financial crisis.
A Controversial Choice
According to Tsipras's recollections, he chose the unorthodox economist Varoufakis to be the treasury head largely because of the latter's global profile and his “extremely attractive” skills when it came to speaker.
“In reality, he was, truthfully, more of a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests that his finance chief possessed a personal agenda that included advancing his publications as well as experimenting with his own theories using the nation rather than truly fighting for the country's financial survival.
He wrote that the talks to stave off insolvency became “not only a way to secure a better deal for Greece. They became an experiment, a monumental chance to demonstrate the truth of his ideas.”
High-Stakes Talks
During rollercoaster discussions, Greece came dangerously on the brink of leaving the eurozone.
At stake was both Greece's destiny and the harsh cutbacks demanded in exchange for rescue loans from international creditors.
Failed Options
Attempts to find financing from other sources, including a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, the excoriating conditions were put to a popular referendum, an action that threw the EU into a further crisis of identity.
Even though the referendum was won resoundingly by voters who opposed the cuts, Tsipras had little option to reject its outcome then negotiate a rescue deal from foreign lenders that proved to be tougher.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who drew publicity, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a secondary currency and issuing coupons to pensioners, Tsipras said he realised that it was game over and asked him: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for a deal that required intricate and delicate management.”
He also wrote that Varoufakis's confrontational approach left him more and more alone with colleagues, put Greece at risk, and helped hardliners who were advocating a Greek exit from the euro.
This account of events has been met with anger along with shock in some quarters, while Varoufakis has so far maintained a deafening silence regarding these claims.