Within his newly released autobiography, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism while he revisits the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, he chose the unorthodox academic Varoufakis as the treasury head largely because of the latter's worldwide fame along with his very persuasive skills as a speaker.
“In reality, he was, in reality, more like a celebrity and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras claims that Varoufakis had a personal agenda which included advancing his publications as well as experimenting with his theories on Greece instead of genuinely fighting for the country's economic stability.
He wrote that those talks to stave off bankruptcy were “not just a method of achieving a better deal for the country. They were an experiment, a monumental chance to prove the truth of his theories.”
High-Stakes Negotiations
During rollercoaster discussions, Greece came perilously on the brink of leaving the eurozone.
At stake lay both the country's destiny but also those punishing cutbacks required in return for financial aid from international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, the harsh conditions were subjected to a popular referendum, a move which threw the EU into deeper existential crisis.
Even though the referendum was won resoundingly by those against the cuts, the prime minister had little option to ignore the result and negotiate a rescue deal with foreign lenders that proved to be more severe.
Final Straw
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy that included establishing a parallel currency and issuing vouchers to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, Tsipras asserts how Varoufakis demonstrated himself “unfit for an agreement demanding complex and sensitive handling.”
Tsipras further claimed that Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, while assisted hawks that were pushing for Grexit.
This account of history has provoked fury along with stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet on the matter.