In a freshly published autobiography, titled Ithaki, the former leader Alexis Tsipras pulls no punches while he reflects on the chaotic era of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's version, he appointed the maverick academic Varoufakis to be the treasury head mainly because of his worldwide fame and his highly compelling abilities as a speaker.
“He was, truthfully, more like a star and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief possessed his own motives that involved promoting Varoufakis's books as well as experimenting with his own game theories on the nation rather than genuinely fighting for its economic stability.
Tsipras wrote that those talks to prevent bankruptcy became “not only a way to secure a better deal for the country. They were a test, a monumental chance to prove the truth of his ideas.”
Critical Negotiations
Amid volatile negotiations, Greece came perilously on the brink of exiting the eurozone.
At stake was both Greece's future and the harsh cutbacks demanded in exchange for rescue loans from foreign lenders.
Failed Options
Attempts to find funds elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, the excoriating conditions were subjected to a popular referendum, an action which plunged Europe into further existential crisis.
Although the referendum was won resoundingly by those against austerity, Tsipras was forced but to ignore the result then agree to a bailout package from foreign lenders that proved to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency and distributing vouchers to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, the author concludes that Varoufakis had proved himself to be “unfit for an agreement that required intricate and delicate handling.”
He further wrote how his aggressive approach made him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
This account of events has provoked fury along with shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.