Within his freshly published memoir, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches while he examines the turbulent era of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's recollections, he selected the unorthodox economist Varoufakis as his treasury head mainly because of his global profile and his highly compelling skills as a communicator.
“He was, actually, more of a star rather than an economist,” stated the 51-year-old.
Clashing Priorities
The former leader alleges how Varoufakis possessed his own motives which involved promoting his books as well as experimenting with his own economic models using Greece rather than genuinely advocating its financial survival.
Tsipras noted how those talks to avoid insolvency became “not only a method to secure improved terms for the country. They became a test, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
Amid rollercoaster discussions, the country found itself dangerously on the brink of exiting the eurozone.
At stake lay both the country's destiny and the harsh cutbacks required in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, including a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the excoriating conditions were put to a popular referendum, a move which threw the EU into further crisis of identity.
Even though the referendum was carried decisively by voters against austerity, the prime minister had little option but to reject its outcome and agree to a bailout package from creditors which proved to be more severe.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who attracted publicity, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
After the minister outlined a backup strategy involving creating a parallel currency as well as distributing coupons to retirees, the leader knew that it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras concludes how his former ally demonstrated himself “unfit for a deal that required intricate and delicate handling.”
Tsipras also wrote how Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, while assisted hardliners that were advocating Grexit.
This retelling of events has been met with anger and stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
