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In a freshly published memoir, titled Ithaki, the former premier Tsipras spares no criticism as he reflects on that turbulent era of Greece's debt drama.

An Unconventional Appointment

According to the ex-PM's recollections, Tsipras appointed that maverick academic Yanis Varoufakis as his treasury head primarily because of his global profile and his highly compelling abilities when it came to public orator.

“In reality, he was, in reality, more like a celebrity rather than an economic expert,” recalled Tsipras.

Conflicting Agendas

The former leader alleges that his finance chief possessed his own motives which involved advancing Varoufakis's publications as well as testing out his game theories using the nation instead of genuinely advocating its financial survival.

He wrote how the talks to stave off bankruptcy were “not just a way to secure a better deal for the country. They were a test, an historic opportunity to demonstrate the validity of his theories.”

High-Stakes Negotiations

During volatile negotiations, Greece came dangerously on the brink of exiting the single currency area.

At stake was not only Greece's future but also the punishing austerity policies required in return for rescue loans from international creditors.

Failed Alternatives

Efforts to secure financing from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.

Assisting the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.

Referendum Followed by Reversal

In July 2015, those harsh bailout terms were subjected to a popular referendum, a move which threw the EU into further crisis of identity.

Although the vote was carried resoundingly by voters against austerity, the prime minister had little option to ignore the result and agree to a rescue deal with foreign lenders which turned out to be tougher.

Final Straw

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

“He was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”

After Varoufakis proposed a contingency plan involving creating a secondary currency as well as issuing coupons to retirees, the leader knew it was game over and asked him: “Can you be serious?”

Enduring Criticism

In the memoir, the author asserts that Varoufakis demonstrated himself “unfit for an agreement demanding complex and delicate management.”

He also wrote that his aggressive style left him increasingly isolated with colleagues, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.

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