Within his recently unveiled personal account, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he examines the chaotic period during Greece's economic turmoil.
A Controversial Appointment
In Tsipras's recollections, he selected that maverick economist Yanis Varoufakis to be his finance minister largely because of his worldwide fame along with Varoufakis's highly compelling abilities as a communicator.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras alleges that his finance chief possessed his own motives that included promoting his books and experimenting with his own economic models using Greece instead of genuinely advocating its economic stability.
Tsipras wrote that those talks to prevent bankruptcy were “not just a method of achieving improved terms for the country. They became an experiment, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
Amid tense discussions, Greece came dangerously close to exiting the single currency area.
On the line lay both the country's destiny but also the harsh austerity policies required in exchange for rescue loans from foreign lenders.
Failed Options
Attempts to find funds elsewhere, including a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the punitive bailout terms were put to a popular referendum, a move which threw Europe into a further existential crisis.
Even though the referendum was won resoundingly by voters against the cuts, Tsipras was forced but to reject its outcome and agree to a bailout package from creditors which proved to be tougher.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the covers of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency as well as issuing coupons to retirees, the leader knew it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras concludes how Varoufakis had proved himself “unfit for an agreement that required complex and sensitive management.”
Tsipras also wrote how Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, and helped hawks who were advocating Grexit.
The retelling of events has been met with fury and shock in some quarters, while Varoufakis has kept a conspicuous quiet regarding these claims.