Within his newly released memoir, named Ithaki, the former premier Alexis Tsipras does not hold back while he revisits that turbulent period during Greece's economic turmoil.
A Controversial Choice
In the ex-PM's version, Tsipras chose that maverick economist Varoufakis to be the finance minister mainly due to the latter's international reputation along with Varoufakis's highly compelling abilities when it came to communicator.
“He was, truthfully, more of a star and less of an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras alleges that Varoufakis possessed a personal agenda that involved promoting Varoufakis's publications as well as testing out his own game theories using Greece instead of truly fighting for the country's financial survival.
Tsipras noted that those talks to stave off bankruptcy became “not only a way of achieving improved terms for Greece. They were an experiment, an historic chance to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid tense discussions, the country found itself dangerously on the brink of leaving the eurozone.
On the line lay both Greece's future and the harsh cutbacks demanded in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating conditions were put to a public vote, a move which threw Europe into a further existential crisis.
Even though the vote was carried decisively by voters against the cuts, the prime minister had little option to reject its outcome and negotiate a bailout package from creditors that proved to be tougher.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who attracted media attention, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan that included creating a parallel currency as well as distributing vouchers to retirees, the leader said he realised that it was the end questioning him: “Can you be serious?”
Lasting Criticism
In the book, Tsipras concludes how Varoufakis demonstrated himself to be “unfit for an agreement that required complex and sensitive handling.”
Tsipras also wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, while helped hardliners who were advocating Grexit.
The retelling of history has been met with anger and stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
