Within his freshly published memoir, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he reflects on that turbulent period during Greece's economic turmoil.
In Tsipras's account, Tsipras chose the unorthodox economist Varoufakis to be his treasury head mainly because of the latter's worldwide fame along with his “extremely attractive” abilities as a public orator.
“He was, in reality, more like a star and less of an economic expert,” recalled Tsipras.
Tsipras alleges that Varoufakis had his own motives which included promoting Varoufakis's publications and experimenting with his game theories using the nation instead of truly advocating its economic stability.
Tsipras explained that the discussions to avoid bankruptcy became “not only a way of achieving a better deal for Greece. They became a test, a monumental opportunity to prove the validity of Varoufakis's ideas.”
Amid rollercoaster discussions, the country found itself dangerously close to exiting the eurozone.
At stake lay both the country's destiny but also those punishing austerity policies demanded in exchange for financial aid from foreign lenders.
Attempts to secure financing from other sources, such as an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
In July 2015, the excoriating bailout terms were subjected to a popular referendum, a move that plunged the EU into further existential crisis.
Although the referendum was carried resoundingly by those against austerity, the prime minister had little option to ignore the result and negotiate a bailout package from creditors which proved to be even harsher.
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the man who drew media attention, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a secondary currency as well as distributing coupons to pensioners, Tsipras knew it was game over and asked Varoufakis: “Is this for real?”
In the book, Tsipras asserts how his former ally demonstrated himself “unfit for a deal demanding complex and delicate management.”
He further wrote how his aggressive style made him increasingly isolated with colleagues, endangered the country, and assisted hawks that were pushing for Grexit.
This retelling of events has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a deafening silence on the matter.
Elena Hartwell is a multidisciplinary artist and educator passionate about fostering creative communities in London.