In a freshly published memoir, called Ithaki, the former prime minister Alexis Tsipras spares no criticism while he examines the turbulent era of Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's account, he chose the unorthodox academic Varoufakis as the treasury head primarily due to the latter's worldwide fame and his very persuasive skills as a public orator.
“He was, in reality, more like a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader suggests how Varoufakis possessed his own motives that involved advancing his publications as well as testing out his theories using the nation rather than truly fighting for its economic stability.
Tsipras wrote that those discussions to stave off insolvency became “not just a way of achieving a better deal for Greece. They became a test, an historic chance to prove the validity of Varoufakis's theories.”
Critical Negotiations
Amid tense discussions, Greece came dangerously close to leaving the single currency area.
On the line lay both Greece's destiny and those punishing cutbacks demanded in exchange for bailout funds by international creditors.
Unsuccessful Options
Efforts to find financing from other sources, including a desperate appeal to Russia to buy Greek government bonds, were rejected.
Helping the indebted country was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum and Reversal
That summer, the excoriating conditions were put to a public vote, an action which plunged Europe into deeper crisis of identity.
Although the referendum was won decisively by voters against the cuts, the prime minister was forced to ignore the result and negotiate a rescue deal with foreign lenders which proved to be tougher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who drew media attention, who graced the covers of publications the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan that included creating a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, the author concludes that Varoufakis had proved himself “unsuitable for an agreement that required intricate and sensitive handling.”
Tsipras also wrote that Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, and assisted hardliners who were advocating Grexit.
This retelling of history has been met with anger along with stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
