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In a freshly published memoir, titled Ithaki, the former premier Tsipras spares no criticism while he examines that turbulent period of Greece's economic turmoil.

An Unconventional Choice

According to the ex-PM's recollections, Tsipras chose the unorthodox economist Yanis Varoufakis to be his treasury head largely due to the latter's international reputation and his “extremely attractive” skills when it came to public orator.

“In reality, he was, in reality, more like a personality rather than an economic expert,” wrote Tsipras.

Clashing Priorities

Tsipras claims how Varoufakis possessed his own agenda that involved advancing Varoufakis's books as well as experimenting with his own economic models on Greece instead of genuinely advocating its financial survival.

He explained that those negotiations to avoid bankruptcy were “not only a method to secure a better deal for the country. They became a test, an historic chance to prove the validity of Varoufakis's ideas.”

Critical Talks

During rollercoaster discussions, the country found itself dangerously close to leaving the single currency area.

At stake lay not only Greece's future and the harsh cutbacks demanded in exchange for rescue loans from foreign lenders.

Unsuccessful Alternatives

Efforts to secure funds from other sources, such as an urgent appeal to Russia to purchase Greek bonds, went unanswered.

Helping Greece was equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.

Public Vote Followed by Reversal

In July 2015, the punitive conditions were put to a public vote, an action which plunged the EU into deeper existential crisis.

Even though the vote was won decisively by those who opposed austerity, Tsipras had little option to ignore the result then agree to a rescue deal from creditors which proved to be even harsher.

Final Straw

The ex-PM claimed that he began to doubt Varoufakis relatively soon.

“He was the face of the talks, the figure who attracted media attention, who graced the front pages of magazines the world over … it seemed he relished his new role.”

After the minister outlined a backup strategy involving establishing a parallel currency as well as issuing coupons to retirees, the leader said he realised that it was game over questioning Varoufakis: “Is this for real?”

Lasting Criticism

In the memoir, Tsipras asserts that Varoufakis had proved himself “unsuitable for an agreement that required complex and delicate management.”

He further wrote that his aggressive style left him more and more alone among peers, put Greece at risk, and helped hardliners 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 Varoufakis has so far maintained a conspicuous quiet on the matter.