In a newly released autobiography, titled Ithaki, the former leader Alexis Tsipras spares no criticism as he revisits that turbulent era during Greece's debt drama.
A Controversial Choice
As per Tsipras's account, he chose that unorthodox economist Varoufakis as the treasury head primarily due to the latter's global profile along with Varoufakis's highly compelling skills as a public orator.
“He was, in reality, more of a star rather than an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader alleges how Varoufakis had a personal motives that involved promoting his publications as well as experimenting with his own theories on Greece instead of truly advocating its economic stability.
Tsipras wrote that the discussions to avoid bankruptcy became “not just a method to secure improved terms for Greece. They were a test, a monumental chance to prove the truth of his ideas.”
Critical Talks
Amid volatile discussions, Greece came dangerously on the brink of exiting the eurozone.
On the line was not only the country's destiny and those harsh austerity measures demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, such as a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
That summer, those harsh conditions were put to a public vote, a move which plunged Europe into a further crisis of identity.
Even though the vote was carried decisively by voters against austerity, Tsipras had little option to reject its outcome and negotiate a rescue deal with creditors that turned out to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
When the minister outlined a contingency plan involving establishing a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras concludes that his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive handling.”
He also claimed that Varoufakis's aggressive approach made him more and more alone among peers, put Greece at risk, and helped hardliners who were advocating Grexit.
The account of history has been met with anger and shock in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
