In a recently unveiled autobiography, called Ithaki, the former leader Alexis Tsipras pulls no punches while he revisits that turbulent era during Greece's debt drama.
A Controversial Choice
In the ex-PM's recollections, Tsipras chose that unorthodox economist Varoufakis as the treasury head largely due to his worldwide fame along with Varoufakis's very persuasive skills as a public orator.
“In reality, he was, truthfully, more of a personality rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims that Varoufakis possessed his own motives which included promoting Varoufakis's publications and testing out his own economic models on the nation rather than truly advocating its financial survival.
He noted that the negotiations to avoid bankruptcy became “not only a method of achieving improved terms for the country. They became an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
Amid volatile negotiations, the country came perilously on the brink of exiting the single currency area.
At stake lay not only Greece's destiny and those harsh cutbacks required in exchange for financial aid from international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those harsh conditions were subjected to a public vote, an action that threw the EU into deeper crisis of identity.
Although the referendum was won decisively by those who opposed the cuts, Tsipras was forced but to ignore the result and negotiate a rescue deal with creditors which turned out to be more severe.
Final Straw
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency and issuing coupons to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unfit for a deal that required complex and delicate handling.”
He further wrote how Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, while helped hawks that were advocating Grexit.
The account of history has been met with fury along with shock in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
