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In a newly released memoir, called Ithaki, the ex- leader Alexis Tsipras pulls no punches as he reflects on the turbulent era of Greece's debt drama.

An Unconventional Appointment

In Tsipras's version, Tsipras selected the maverick academic Varoufakis to be the finance minister primarily because of the latter's worldwide fame and Varoufakis's very persuasive abilities when it came to communicator.

“In reality, he was, in reality, more like a star and less of an economic expert,” stated Tsipras.

Conflicting Priorities

Tsipras suggests how Varoufakis had a personal motives which involved advancing Varoufakis's publications as well as experimenting with his theories on Greece rather than truly fighting for the country's economic stability.

He wrote how the negotiations to avoid bankruptcy were “not just a way to secure improved terms for Greece. They became a test, an historic opportunity to prove the validity of his theories.”

High-Stakes Talks

During tense negotiations, the country found itself perilously close to leaving the single currency area.

At stake lay both the country's destiny and those punishing austerity measures required in exchange for financial aid from international creditors.

Unsuccessful Options

Attempts to secure funds elsewhere, including an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.

Helping Greece was tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.

Referendum Followed by Reversal

That summer, the harsh conditions were subjected to a public vote, an action which threw the EU into a deeper existential crisis.

Even though the vote was won resoundingly by those against the cuts, Tsipras was forced but to ignore the result and negotiate a bailout package from foreign lenders which proved to be tougher.

Breaking Point

The ex-PM revealed that he started questioning Varoufakis quite early on.

“Varoufakis was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of publications the world over … it seemed he relished his new role.”

When the minister outlined a backup strategy involving creating a secondary currency and issuing coupons to retirees, the leader knew it was game over and asked Varoufakis: “Can you be serious?”

Lasting Criticism

Within the memoir, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and delicate management.”

He further claimed how his confrontational style left him more and more alone with colleagues, put Greece at risk, and helped hawks that were advocating Grexit.

This account of history has been met with fury along with shock in some quarters, while the former minister has so far kept a deafening silence regarding these claims.