Within his freshly published memoir, called Ithaki, the ex- premier Alexis Tsipras does not hold back while he examines the chaotic period of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's version, Tsipras selected the maverick economist Varoufakis to be his finance minister primarily due to the latter's international reputation and his highly compelling abilities as a public orator.
“He was, actually, more of a celebrity and less of an economist,” recalled Tsipras.
Clashing Agendas
The former leader alleges how his finance chief had a personal motives which included promoting his publications as well as experimenting with his game theories using Greece instead of genuinely fighting for the country's economic stability.
He wrote that the discussions to stave off insolvency became “not only a way of achieving a better deal for the country. They were an experiment, a monumental opportunity to prove the validity of his ideas.”
Critical Negotiations
During tense discussions, Greece came dangerously close to leaving the eurozone.
At stake was both Greece's destiny but also those severe cutbacks demanded in return for financial aid from international creditors.
Failed Options
Efforts to find funds from other sources, including a desperate plea to Russia to buy Greek bonds, went unanswered.
Assisting Greece was equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the harsh bailout terms were subjected to a popular referendum, a move that plunged Europe into further existential crisis.
Even though the referendum was carried decisively by voters against austerity, Tsipras was forced but to reject its outcome then agree to a bailout package from foreign lenders that proved to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
When the minister outlined a contingency plan involving creating a parallel currency and issuing vouchers to pensioners, Tsipras said he realised it was game over and asked him: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras concludes that his former ally had proved himself to be “unsuitable for a deal that required complex and delicate management.”
He further wrote that his aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hardliners who were advocating Grexit.
This account of history has provoked fury along with shock in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
