In a newly released personal account, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches while he reflects on the turbulent period of Greece's financial crisis.
A Controversial Appointment
As per Tsipras's version, Tsipras selected that unorthodox economist Varoufakis as the treasury head primarily due to the latter's international reputation along with his “extremely attractive” abilities as a public orator.
“He was, truthfully, more of a personality rather than an economist,” stated Tsipras.
Conflicting Priorities
Tsipras suggests that Varoufakis possessed a personal agenda which included advancing his publications as well as experimenting with his economic models using Greece instead of genuinely advocating the country's economic stability.
Tsipras explained that those negotiations to avoid insolvency became “not only a way of achieving a better deal for Greece. They became an experiment, an historic chance to prove the validity of his ideas.”
Critical Negotiations
Amid volatile discussions, Greece came dangerously on the brink of leaving the eurozone.
At stake lay not only the country's future but also the severe cutbacks demanded in return for rescue loans by international creditors.
Failed Options
Attempts to find funds from other sources, including an urgent plea to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the punitive conditions were put to a public vote, a move which threw Europe into a further crisis of identity.
Although the vote was carried decisively by voters who opposed austerity, the prime minister was forced but to ignore the result then agree to a bailout package with foreign lenders which proved to be tougher.
Final Straw
Tsipras claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
When Varoufakis outlined a backup strategy involving establishing a parallel currency as well as distributing vouchers to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras asserts that his former ally had proved himself to be “unfit for an agreement that required complex and delicate handling.”
Tsipras further wrote how Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, while assisted hawks that were pushing for Grexit.
This retelling of history has been met with anger along with stunned disbelief among certain groups, while the former minister has maintained a deafening silence regarding these claims.
