In a recently unveiled personal account, named Ithaki, the ex- leader Alexis Tsipras spares no criticism as he reflects on that chaotic era of Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's version, Tsipras selected that maverick academic Yanis Varoufakis as his finance minister primarily due to the latter's international reputation and his highly compelling skills when it came to public orator.
“He was, truthfully, more like a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras suggests that Varoufakis possessed a personal agenda that included advancing his publications as well as experimenting with his own theories using Greece rather than genuinely advocating its financial survival.
He noted that those discussions to stave off insolvency became “not only a way of achieving a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of his ideas.”
Critical Talks
During volatile negotiations, the country came perilously on the brink of leaving the eurozone.
On the line was both Greece's future but also the punishing cutbacks required in return for financial aid by foreign lenders.
Failed Options
Attempts to secure financing elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece was tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, those punitive bailout terms were put to a popular referendum, a move which threw Europe into a further existential crisis.
Even though the referendum was carried decisively by those against austerity, the prime minister had little option but to ignore the result then negotiate a bailout package from creditors that proved to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who drew publicity, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency and issuing coupons to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate handling.”
Tsipras further claimed how Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
This account of events has been met with fury along with shock in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
