Within his freshly published memoir, called Ithaki, the ex- leader Alexis Tsipras does not hold back while he reflects on that turbulent era of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's account, Tsipras selected that maverick economist Varoufakis to be his finance minister primarily because of the latter's worldwide fame and his highly compelling abilities as a speaker.
“He was, actually, more of a personality rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader suggests that his finance chief possessed a personal agenda which included promoting Varoufakis's books and experimenting with his theories using the nation rather than truly advocating its economic stability.
Tsipras wrote that those discussions to stave off insolvency became “not just a method of achieving improved terms for Greece. They became an experiment, an historic chance to prove the truth of his ideas.”
Critical Negotiations
During volatile negotiations, Greece found itself perilously on the brink of exiting the single currency area.
At stake was both Greece's destiny but also those harsh cutbacks required in return for rescue loans from foreign lenders.
Failed Options
Efforts to find funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the harsh conditions were subjected to a public vote, an action which plunged the EU into further existential crisis.
Even though the vote was carried resoundingly by voters against austerity, the prime minister was forced but to ignore the result then agree to a rescue deal from creditors which turned out to be more severe.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who drew media attention, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan that included creating a secondary currency and issuing vouchers to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, the author concludes how Varoufakis demonstrated himself “unfit for an agreement that required intricate and delicate management.”
Tsipras also claimed how his confrontational approach left him more and more alone among peers, endangered the country, and helped hardliners that were pushing for Grexit.
The account of events has provoked fury along with stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.