In a recently unveiled autobiography, called Ithaki, the former leader Alexis Tsipras pulls no punches while he revisits the turbulent period during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's account, he appointed the maverick academic Yanis Varoufakis to be his treasury head mainly due to his global profile and Varoufakis's “extremely attractive” abilities as a communicator.
“He was, actually, more of a personality rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader claims how his finance chief had a personal agenda which included promoting Varoufakis's books as well as experimenting with his own game theories using Greece instead of genuinely fighting for the country's economic stability.
He wrote that the negotiations to avoid bankruptcy were “not just a method of achieving a better deal for the country. They were an experiment, a monumental chance to demonstrate the validity of Varoufakis's theories.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the single currency area.
On the line was both the country's future and the harsh cutbacks demanded in return for bailout funds from international creditors.
Failed Alternatives
Efforts to find funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, the excoriating bailout terms were subjected to a public vote, an action which threw the EU into deeper existential crisis.
Even though the vote was carried decisively by those who opposed the cuts, Tsipras was forced to ignore the result then agree to a bailout package with creditors which turned out to be tougher.
Final Straw
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who attracted media attention, who appeared on the covers of publications the world over … he gave the impression he relished the spotlight.”
When the minister outlined a contingency plan that included establishing a secondary currency and issuing coupons to pensioners, Tsipras knew that it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras concludes how his former ally had proved himself “unsuitable for an agreement that required intricate and delicate management.”
He further claimed that his aggressive approach left him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
This retelling of history has been met with fury along with stunned disbelief among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
