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Within his newly released personal account, named Ithaki, the former premier Alexis Tsipras pulls no punches as he reflects on the chaotic period of Greece's economic turmoil.

An Unconventional Appointment

According to Tsipras's version, Tsipras chose the maverick economist Varoufakis as the treasury head mainly due to his worldwide fame and Varoufakis's very persuasive skills as a communicator.

“In reality, he was, actually, more like a star and less of an economist,” recalled Tsipras.

Clashing Priorities

The former leader suggests how Varoufakis possessed a personal motives that involved advancing Varoufakis's books as well as testing out his theories on Greece instead of truly advocating its economic stability.

He wrote that the negotiations to prevent bankruptcy became “not just a method to secure improved terms for the country. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's theories.”

High-Stakes Talks

Amid tense discussions, the country came perilously close to leaving the eurozone.

On the line was not only Greece's future but also the severe cutbacks demanded in exchange for financial aid by foreign lenders.

Failed Options

Efforts to secure financing elsewhere, including an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.

Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.

Public Vote Followed by U-Turn

That summer, the harsh conditions were subjected to a popular referendum, a move that threw the EU into deeper crisis of identity.

Even though the referendum was won resoundingly by those against the cuts, the prime minister was forced to ignore the result then negotiate a rescue deal with foreign lenders which turned out to be even harsher.

Breaking Point

The ex-PM revealed how he started questioning his finance minister quite early on.

“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”

When the minister proposed a contingency plan involving establishing a parallel currency as well as distributing coupons to retirees, the leader said he realised it was game over questioning him: “Is this for real?”

Lasting Criticism

In the book, the author asserts how Varoufakis demonstrated himself to be “unfit for a deal that required complex and delicate management.”

He further wrote how his aggressive approach left him increasingly isolated with colleagues, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.

This retelling of events has been met with fury and shock in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.