Within his recently unveiled personal account, called Ithaki, the former prime minister Alexis Tsipras does not hold back while he revisits the turbulent period of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's version, he selected that unorthodox economist Varoufakis as his finance minister largely due to his global profile along with his “extremely attractive” abilities as a speaker.
“He was, actually, more of a celebrity and less of an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras alleges that his finance chief possessed a personal agenda that included advancing Varoufakis's books and testing out his own economic models on Greece rather than truly advocating the country's economic stability.
Tsipras explained that those talks to stave off insolvency were “not only a way of achieving a better deal for the country. They were an experiment, a monumental chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster discussions, Greece came dangerously on the brink of leaving the single currency area.
At stake was both Greece's future but also the punishing austerity policies required in return for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, those excoriating conditions were subjected to a popular referendum, an action which plunged the EU into a further crisis of identity.
Even though the vote was carried resoundingly by voters who opposed the cuts, Tsipras was forced to reject its outcome then agree to a bailout package with foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan that included creating a parallel currency and distributing coupons to retirees, the leader knew it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, the author asserts that his former ally had proved himself “unsuitable for a deal demanding complex and delicate handling.”
He also claimed that Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, while helped hawks that were pushing for Grexit.
The account of history has provoked fury and shock among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
