Within his freshly published personal account, called Ithaki, the former prime minister Alexis Tsipras pulls no punches while he examines the turbulent period of Greece's financial crisis.
A Controversial Appointment
In Tsipras's version, he selected the unorthodox academic Varoufakis to be his treasury head mainly because of the latter's global profile and Varoufakis's “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis possessed a personal agenda which included promoting his publications as well as testing out his own game theories on the nation rather than truly advocating its financial survival.
Tsipras explained how those talks to prevent bankruptcy became “not just a way of achieving a better deal for Greece. They became a test, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
During volatile discussions, the country found itself perilously close to leaving the single currency area.
At stake lay not only Greece's future but also those severe cutbacks demanded in return for rescue loans from foreign lenders.
Failed Options
Efforts to find financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece was tantamount to throwing money into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those harsh conditions were put to a public vote, an action that threw Europe into a further crisis of identity.
Although the vote was won decisively by those against the cuts, Tsipras had little option but to ignore the result and negotiate a rescue deal with creditors which proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
After the minister proposed a contingency plan involving creating a secondary currency and distributing vouchers to pensioners, Tsipras knew it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive management.”
He also wrote that his confrontational style made him more and more alone with colleagues, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
The retelling of events has been met with fury and shock in some quarters, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
