Within his newly released personal account, called Ithaki, the former premier Alexis Tsipras pulls no punches while he revisits that chaotic era of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's version, Tsipras chose the unorthodox economist Yanis Varoufakis to be his finance minister largely because of the latter's global profile along with Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, actually, more of a star rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader alleges how his finance chief possessed a personal motives that included promoting his publications as well as testing out his theories using the nation instead of truly advocating its economic stability.
Tsipras wrote that those discussions to avoid bankruptcy became “not just a method to secure improved terms for the country. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
Amid volatile discussions, Greece found itself dangerously close to exiting the eurozone.
At stake lay both the country's future but also those harsh austerity policies demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, the punitive conditions were put to a popular referendum, an action that plunged the EU into a further crisis of identity.
Even though the referendum was carried decisively by those against the cuts, the prime minister was forced but to reject its outcome then negotiate a rescue deal with creditors that turned out to be more severe.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who drew publicity, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency and distributing vouchers to pensioners, the leader knew that it was the end questioning him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author concludes that his former ally had proved himself “unsuitable for an agreement that required intricate and delicate handling.”
He also claimed how his aggressive style left him more and more alone among peers, put Greece at risk, while helped hardliners who were advocating Grexit.
The retelling of events has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
