Within his freshly published memoir, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits the chaotic period during Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's account, he selected the unorthodox economist Varoufakis to be the finance minister primarily because of the latter's international reputation along with Varoufakis's very persuasive abilities as a public orator.
“He was, actually, more of a personality and less of an economist,” stated Tsipras.
Clashing Agendas
Tsipras suggests that his finance chief had his own agenda that involved promoting Varoufakis's books as well as experimenting with his game theories using the nation rather than genuinely fighting for its economic stability.
Tsipras noted how those negotiations to prevent insolvency were “not just a way of achieving a better deal for the country. They were an experiment, an historic chance to demonstrate the validity of his theories.”
Critical Talks
During rollercoaster discussions, the country came perilously close to leaving the eurozone.
At stake lay not only the country's destiny but also the harsh austerity measures required in return for rescue loans by international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, including an urgent plea to Russia to purchase Greek government bonds, were rejected.
Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, the harsh bailout terms were put to a public vote, a move which threw the EU into further existential crisis.
Even though the vote was won decisively by voters against austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal with creditors that turned out to be more severe.
Final Straw
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the covers of publications the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency as well as issuing vouchers to retirees, Tsipras knew that it was the end and asked him: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how Varoufakis had proved himself “unsuitable for a deal that required intricate and delicate handling.”
He also wrote that his confrontational style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating Grexit.
This retelling of history has been met with anger and shock in some quarters, while the former minister has kept a conspicuous quiet on the matter.
