In a freshly published memoir, called Ithaki, the former premier Alexis Tsipras spares no criticism as he revisits the turbulent era during Greece's debt drama.
An Unconventional Choice
According to the ex-PM's version, Tsipras appointed that unorthodox academic Yanis Varoufakis as the finance minister largely due to his global profile and his “extremely attractive” abilities when it came to communicator.
“He was, truthfully, more of a star rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader alleges how Varoufakis possessed his own agenda which involved promoting Varoufakis's publications and testing out his own game theories on Greece instead of truly fighting for the country's financial survival.
He explained how those discussions to avoid insolvency were “not only a method to secure improved terms for Greece. They became an experiment, an historic chance to demonstrate the validity of his theories.”
High-Stakes Talks
During rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the single currency area.
At stake was not only the country's destiny and those punishing cutbacks demanded in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, such as an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
That summer, those excoriating bailout terms were subjected to a public vote, an action which plunged the EU into further existential crisis.
Even though the referendum was carried resoundingly by those who opposed the cuts, Tsipras had little option but to reject its outcome and agree to a rescue deal with creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted media attention, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan involving creating a secondary currency as well as issuing coupons to retirees, the leader knew it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras concludes how his former ally had proved himself to be “unsuitable for an agreement demanding complex and delicate management.”
He also wrote how Varoufakis's confrontational style left him more and more alone among peers, put Greece at risk, while assisted hawks that were pushing for Grexit.
This account of history has provoked anger and stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence on the matter.
