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In a newly released personal account, named Ithaki, the ex- prime minister Tsipras pulls no punches as he reflects on that turbulent era of Greece's economic turmoil.

A Controversial Appointment

As per the ex-PM's version, he chose that maverick academic Yanis Varoufakis as the treasury head primarily because of the latter's global profile along with his “extremely attractive” skills as a public orator.

“In reality, he was, truthfully, more of a celebrity rather than an economist,” recalled Tsipras.

Clashing Agendas

The former leader alleges that his finance chief possessed his own motives that involved advancing Varoufakis's publications and experimenting with his own game theories using Greece rather than truly fighting for its financial survival.

Tsipras explained that the negotiations to prevent bankruptcy were “not only a method of achieving a better deal for the country. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's ideas.”

Critical Talks

Amid rollercoaster negotiations, the country came dangerously on the brink of leaving the single currency area.

At stake was both Greece's future but also the severe austerity policies required in return for bailout funds by foreign lenders.

Unsuccessful Alternatives

Efforts to secure funds from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.

Assisting the indebted country was tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.

Referendum and U-Turn

In July 2015, the harsh conditions were subjected to a popular referendum, an action that plunged Europe into deeper existential crisis.

Even though the vote was carried resoundingly by those against austerity, the prime minister was forced to ignore the result then negotiate a bailout package with creditors which turned out to be tougher.

Final Straw

The ex-PM revealed that he began to doubt his finance minister quite early on.

“He was the face of negotiation, the figure who attracted media attention, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”

After Varoufakis outlined a backup strategy that included creating a parallel currency and issuing coupons to pensioners, Tsipras said he realised that it was the end and asked him: “Can you be serious?”

Lasting Criticism

In the memoir, the author concludes that Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and sensitive handling.”

Tsipras further wrote that his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.

The retelling of history has been met with fury along with shock in some quarters, whereas the former minister has maintained a deafening silence on the matter.