Within his newly released personal account, called Ithaki, the ex- leader Alexis Tsipras does not hold back while he revisits that chaotic period during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's version, he appointed the unorthodox academic Varoufakis as his finance minister primarily because of his worldwide fame and Varoufakis's “extremely attractive” skills as a communicator.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras suggests that his finance chief possessed his own agenda which included promoting Varoufakis's publications as well as experimenting with his theories on Greece instead of truly advocating the country's financial survival.
He explained how the talks to avoid bankruptcy became “not only a method to secure a better deal for the country. They became a test, an historic chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
During volatile discussions, the country came perilously close to leaving the eurozone.
At stake lay not only the country's destiny and those harsh cutbacks demanded in return for bailout funds from international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, those punitive conditions were subjected to a popular referendum, an action which plunged Europe into a deeper crisis of identity.
Although the referendum was won resoundingly by those who opposed austerity, Tsipras had little option but to reject its outcome then agree to a bailout package from creditors that turned out to be more severe.
Final Straw
Tsipras revealed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who drew media attention, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency and issuing vouchers to pensioners, the leader knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, Tsipras asserts that Varoufakis had proved himself to be “unfit for an agreement that required intricate and sensitive handling.”
He further wrote how Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
This account of events has been met with anger along with shock in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
