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Within his newly released personal account, titled Ithaki, the former premier Alexis Tsipras spares no criticism while he examines that turbulent era during Greece's debt drama.

An Unconventional Appointment

As per the ex-PM's account, he selected that maverick academic Varoufakis as his finance minister primarily due to the latter's international reputation along with his highly compelling skills as a speaker.

“He was, truthfully, more like a celebrity and less of an economist,” stated the 51-year-old.

Conflicting Agendas

Tsipras claims that his finance chief had his own motives which involved promoting his books and testing out his economic models on the nation rather than truly advocating its economic stability.

He noted that those discussions to prevent insolvency were “not just a way of achieving improved terms for Greece. They became an experiment, an historic chance to prove the truth of his ideas.”

Critical Talks

During rollercoaster discussions, the country came perilously on the brink of exiting the single currency area.

On the line lay both Greece's destiny and the severe austerity measures required in return for financial aid from international creditors.

Unsuccessful Alternatives

Efforts to secure funds from other sources, such as a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.

Helping the indebted country was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.

Public Vote and U-Turn

That summer, the harsh bailout terms were subjected to a popular referendum, an action that plunged the EU into a deeper crisis of identity.

Although the referendum was carried resoundingly by those against austerity, Tsipras was forced to reject its outcome and agree to a bailout package from foreign lenders that proved to be even harsher.

Breaking Point

Tsipras revealed that he began to doubt Varoufakis relatively soon.

“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the front pages of magazines the world over … he gave the impression he was enjoying his new role.”

After Varoufakis outlined a backup strategy involving establishing a secondary currency as well as issuing vouchers to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Can you be serious?”

Enduring Criticism

In the memoir, Tsipras asserts how Varoufakis had proved himself “unfit for an agreement that required complex and delicate handling.”

Tsipras also wrote how his aggressive style made him increasingly isolated among peers, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.

The retelling of events has provoked anger along with stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence on the matter.