In a recently unveiled personal account, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches as he examines the turbulent era of Greece's financial crisis.
A Controversial Appointment
As per Tsipras's version, he selected the maverick economist Varoufakis as his treasury head largely due to the latter's worldwide fame along with his “extremely attractive” abilities as a public orator.
“He was, in reality, more of a personality and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader alleges how Varoufakis possessed his own motives that involved promoting Varoufakis's publications and experimenting with his theories on the nation rather than truly advocating its economic stability.
Tsipras wrote that the talks to prevent bankruptcy were “not just a method of achieving improved terms for Greece. They were a test, an historic chance to prove the validity of his ideas.”
Critical Negotiations
Amid volatile discussions, the country came perilously on the brink of leaving the eurozone.
On the line lay not only the country's destiny and the harsh cutbacks demanded in return for financial aid from foreign lenders.
Failed Options
Efforts to find funds elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece would be equivalent to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, the harsh conditions were subjected to a public vote, an action that threw Europe into deeper existential crisis.
Although the vote was carried resoundingly by voters against austerity, Tsipras had little option to reject its outcome and agree to a rescue deal with foreign lenders which proved to be tougher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who attracted publicity, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, Tsipras knew it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, the author concludes that his former ally had proved himself “unfit for a deal that required complex and delicate handling.”
He also claimed that his aggressive style made him increasingly isolated among peers, put Greece at risk, and assisted hawks that were pushing for Grexit.
This account of events has provoked fury and shock among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
