Within his freshly published memoir, titled Ithaki, the former premier Alexis Tsipras spares no criticism while he reflects on the turbulent period during Greece's debt drama.
An Unconventional Appointment
As per Tsipras's version, he selected the unorthodox academic Varoufakis to be the treasury head primarily due to the latter's worldwide fame along with his “extremely attractive” abilities as a speaker.
“In reality, he was, truthfully, more like a star rather than an economic expert,” recalled Tsipras.
Conflicting Priorities
The former leader claims that Varoufakis had his own motives that included promoting Varoufakis's books and experimenting with his economic models on the nation rather than truly advocating its financial survival.
Tsipras wrote how those talks to prevent bankruptcy were “not just a way to secure a better deal for Greece. They became an experiment, an historic opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
During volatile discussions, Greece found itself perilously close to leaving the eurozone.
At stake was not only Greece's destiny but also the punishing cutbacks required in return for financial aid by foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum and Reversal
That summer, those excoriating bailout terms were subjected to a popular referendum, a move which plunged Europe into deeper crisis of identity.
Even though the referendum was won decisively by those against austerity, the prime minister had little option to ignore the result and negotiate a bailout package from foreign lenders that turned out to be tougher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who attracted publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy that included creating a parallel currency and issuing coupons to pensioners, the leader said he realised it was game over questioning him: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes that Varoufakis demonstrated himself “unfit for an agreement that required complex and sensitive management.”
Tsipras also wrote how Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, and helped hawks that were pushing for Grexit.
This retelling of history has been met with anger and stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.