In a recently unveiled autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he revisits that chaotic period during Greece's financial crisis.
A Controversial Appointment
According to Tsipras's version, Tsipras appointed that unorthodox academic Varoufakis as his finance minister mainly due to his global profile along with his highly compelling skills as a public orator.
“In reality, he was, actually, more of a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras alleges how his finance chief had a personal motives which involved promoting Varoufakis's books as well as experimenting with his theories on the nation instead of truly advocating its economic stability.
He wrote how the discussions to prevent insolvency became “not just a way to secure improved terms for the country. They became a test, an historic chance to demonstrate the truth of his ideas.”
Critical Negotiations
Amid tense discussions, the country found itself perilously close to leaving the single currency area.
On the line lay both the country's future but also those punishing austerity policies required in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, such as an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, those punitive bailout terms were put to a popular referendum, a move which plunged the EU into further existential crisis.
Although the referendum was carried resoundingly by those against austerity, Tsipras had little option to reject its outcome and agree to a rescue deal with foreign lenders that turned out to be more severe.
Final Straw
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted media attention, who graced the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a backup strategy involving establishing a secondary currency as well as issuing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, the author asserts that his former ally demonstrated himself to be “unfit for a deal that required intricate and delicate handling.”
He also wrote how Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were pushing for Grexit.
This retelling of history has been met with fury along with shock in some quarters, while the former minister has kept a deafening silence regarding these claims.