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Within his freshly published personal account, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he revisits that turbulent period of Greece's economic turmoil.

An Unconventional Choice

According to Tsipras's account, he selected the maverick academic Yanis Varoufakis to be his finance minister mainly due to his worldwide fame and his highly compelling abilities as a speaker.

“In reality, he was, truthfully, more of a personality and less of an economic expert,” wrote Tsipras.

Clashing Priorities

The former leader claims that Varoufakis possessed a personal agenda which involved promoting his publications as well as testing out his theories using the nation instead of truly advocating the country's financial survival.

Tsipras explained how the discussions to prevent insolvency were “not only a method to secure a better deal for Greece. They became an experiment, an historic opportunity to prove the validity of Varoufakis's ideas.”

High-Stakes Talks

Amid volatile negotiations, Greece found itself perilously on the brink of leaving the single currency area.

On the line was not only Greece's destiny and those severe austerity measures required in return for rescue loans from foreign lenders.

Unsuccessful Alternatives

Efforts to secure financing elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, were rejected.

Helping Greece would be equivalent to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.

Referendum and U-Turn

In July 2015, those excoriating conditions were put to a public vote, a move which threw the EU into further existential crisis.

Even though the vote was carried decisively by those who opposed the cuts, Tsipras had little option to reject its outcome and negotiate a bailout package from creditors which turned out to be even harsher.

Breaking Point

Tsipras revealed how he began to doubt his finance minister quite early on.

“He was the public image of the talks, the figure who attracted publicity, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”

After the minister outlined a backup strategy that included establishing a secondary currency as well as distributing coupons to retirees, Tsipras knew that it was game over questioning Varoufakis: “Can you be serious?”

Enduring Criticism

In the memoir, the author concludes that his former ally had proved himself to be “unsuitable for a deal that required complex and delicate handling.”

He also wrote how his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners who were pushing for a Greek exit from the euro.

The account of history has been met with fury and stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet on the matter.