Within his recently unveiled autobiography, called Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits that chaotic era of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's version, he chose the maverick academic Varoufakis to be his finance minister mainly due to his worldwide fame along with his very persuasive abilities when it came to communicator.
“In reality, he was, truthfully, more of a celebrity and less of an economist,” wrote Tsipras.
Clashing Priorities
The former leader claims that his finance chief had a personal agenda which involved promoting his books as well as experimenting with his theories on the nation rather than truly fighting for its financial survival.
Tsipras explained how the negotiations to prevent insolvency became “not just a way to secure improved terms for the country. They became a test, an historic chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country found itself perilously close to leaving the single currency area.
On the line lay not only Greece's destiny and the harsh austerity policies required in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those harsh bailout terms were put to a public vote, an action that threw the EU into further crisis of identity.
Although the vote was won resoundingly by those who opposed the cuts, the prime minister had little option to reject its outcome then negotiate a rescue deal from creditors which proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who drew publicity, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a backup strategy involving creating a secondary currency and issuing vouchers to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras asserts how Varoufakis had proved himself to be “unfit for an agreement that required intricate and delicate handling.”
He also wrote that Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, and helped hardliners who were pushing for Grexit.
This retelling of events has been met with fury along with shock in some quarters, whereas the former minister has so far maintained a deafening silence on the matter.
