Within his freshly published memoir, called Ithaki, the former leader Alexis Tsipras spares no criticism while he reflects on the chaotic era during Greece's financial crisis.
An Unconventional Appointment
In Tsipras's account, Tsipras selected that maverick economist Varoufakis to be his finance minister largely due to his international reputation along with his highly compelling abilities as a communicator.
“He was, truthfully, more of a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests that Varoufakis possessed a personal agenda that involved promoting Varoufakis's publications and experimenting with his game theories using Greece rather than genuinely fighting for the country's financial survival.
He noted how the negotiations to stave off bankruptcy became “not just a method to secure a better deal for Greece. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
During volatile negotiations, Greece came perilously close to leaving the eurozone.
At stake lay both the country's destiny and those severe cutbacks required in exchange for bailout funds from foreign lenders.
Failed Options
Attempts to find financing elsewhere, such as an urgent plea to Russia to purchase Greek bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the harsh conditions were subjected to a popular referendum, an action which threw the EU into further crisis of identity.
Although the referendum was won resoundingly by those who opposed the cuts, the prime minister was forced but to reject its outcome then negotiate a bailout package from creditors which proved to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the figure who drew media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy involving establishing a parallel currency as well as issuing coupons to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, the author asserts that his former ally had proved himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras also claimed that Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, and assisted hardliners that were pushing for Grexit.
This account of history has provoked anger and shock among certain groups, while the former minister has kept a deafening silence regarding these claims.