Within his newly released personal account, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he reflects on that chaotic period during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's account, Tsipras selected the maverick academic Varoufakis to be the treasury head mainly because of the latter's global profile and his very persuasive abilities as a public orator.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests how Varoufakis had a personal motives that involved promoting Varoufakis's publications as well as testing out his own game theories on Greece instead of truly advocating the country's economic stability.
He explained that the discussions to stave off bankruptcy became “not only a way to secure a better deal for the country. They were a test, an historic opportunity to demonstrate the validity of his ideas.”
High-Stakes Negotiations
Amid rollercoaster negotiations, the country found itself perilously close to exiting the single currency area.
On the line was both the country's future and the punishing austerity measures demanded in return for bailout funds from international creditors.
Failed Options
Efforts to secure funds elsewhere, such as an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those punitive bailout terms were put to a public vote, a move that threw Europe into deeper crisis of identity.
Even though the vote was carried resoundingly by voters who opposed the cuts, the prime minister had little option to ignore the result and negotiate a rescue deal with creditors which turned out to be even harsher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the face of the talks, the man who attracted publicity, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
After the minister proposed a backup strategy involving creating a secondary currency and issuing coupons to retirees, Tsipras knew it was the end and asked him: “Is this for real?”
Enduring Criticism
Within the book, Tsipras concludes that his former ally had proved himself “unsuitable for an agreement demanding intricate and sensitive management.”
He also claimed that his confrontational approach left him more and more alone among peers, endangered the country, and assisted hardliners that were advocating Grexit.
The retelling of history has provoked anger and shock among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
