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In a newly released memoir, named Ithaki, the ex- premier Tsipras does not hold back as he examines that turbulent era during Greece's financial crisis.

An Unconventional Choice

According to Tsipras's recollections, Tsipras chose that maverick academic Varoufakis as his finance minister mainly because of his worldwide fame and his highly compelling skills when it came to communicator.

“In reality, he was, truthfully, more like a star rather than an economist,” wrote Tsipras.

Clashing Priorities

Tsipras alleges that his finance chief had a personal agenda that involved promoting his books and testing out his theories using Greece rather than genuinely advocating its economic stability.

He explained that the talks to avoid insolvency were “not just a method of achieving improved terms for the country. They were an experiment, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”

Critical Talks

Amid tense negotiations, the country came perilously on the brink of leaving the single currency area.

On the line was not only the country's destiny and the harsh cutbacks required in exchange for bailout funds from foreign lenders.

Failed Options

Attempts to secure funds from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.

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

Referendum Followed by Reversal

In July 2015, those punitive bailout terms were put to a popular referendum, a move that threw the EU into further existential crisis.

Although the vote was carried decisively by those against austerity, Tsipras had little option but to ignore the result and agree to a bailout package with foreign lenders which proved to be more severe.

Final Straw

The ex-PM revealed that he began to doubt Varoufakis quite early on.

“Varoufakis was the public image of the talks, the figure who drew publicity, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”

When Varoufakis proposed a contingency plan that included establishing a parallel currency as well as distributing coupons to retirees, the leader knew that it was the end and asked Varoufakis: “Is this for real?”

Lasting Rebuke

In the book, Tsipras concludes that Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive management.”

Tsipras further wrote how his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.

This account of history has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a deafening silence on the matter.