In a newly released personal account, called Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he reflects on that chaotic period during Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's version, Tsipras appointed that maverick academic Varoufakis as his treasury head primarily because of the latter's international reputation and his highly compelling skills as a public orator.
“In reality, he was, truthfully, more like a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader claims how his finance chief possessed his own agenda that included promoting Varoufakis's publications as well as experimenting with his own game theories on the nation instead of genuinely advocating its financial survival.
Tsipras noted how those discussions to stave off bankruptcy were “not just a way of achieving a better deal for the country. They were a test, a monumental chance to prove the truth of his ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, the country found itself dangerously close to leaving the eurozone.
On the line lay not only the country's future but also the severe cutbacks required in return for rescue loans from international creditors.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, the harsh conditions were put to a public vote, an action which threw the EU into further crisis of identity.
Even though the vote was won resoundingly by voters against austerity, Tsipras was forced to ignore the result then negotiate a rescue deal from creditors which turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who drew media attention, who appeared on the covers of magazines the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency and distributing coupons to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras asserts how his former ally had proved himself to be “unfit for a deal that required complex and sensitive management.”
He also claimed that Varoufakis's confrontational approach left him more and more alone among peers, put Greece at risk, while assisted hawks that were advocating Grexit.
This retelling of history has been met with fury and shock in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.
