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In a freshly published personal account, named Ithaki, the former prime minister Alexis Tsipras spares no criticism as he revisits the chaotic period of Greece's debt drama.

An Unconventional Appointment

In the ex-PM's recollections, Tsipras selected that unorthodox academic Yanis Varoufakis to be his treasury head mainly because of his global profile and Varoufakis's highly compelling abilities as a communicator.

“He was, truthfully, more like a personality and less of an economist,” stated Tsipras.

Conflicting Priorities

The former leader suggests that his finance chief possessed a personal motives that included advancing Varoufakis's books and experimenting with his game theories using the nation rather than genuinely fighting for its economic stability.

He explained that those negotiations to stave off insolvency became “not only a way to secure a better deal for Greece. They became a test, an historic chance to prove the validity of Varoufakis's ideas.”

High-Stakes Talks

Amid rollercoaster discussions, the country found itself dangerously on the brink of leaving the eurozone.

At stake was both the country's future but also the punishing austerity measures required in exchange for rescue loans from foreign lenders.

Unsuccessful Alternatives

Efforts to find financing elsewhere, including an urgent appeal to Russia to purchase Greek bonds, were rejected.

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

Referendum Followed by U-Turn

That summer, the punitive bailout terms were subjected to a public vote, an action that threw Europe into further existential crisis.

Although the referendum was won resoundingly by voters against the cuts, Tsipras was forced to reject its outcome then agree to a bailout package from foreign lenders which proved to be even harsher.

Breaking Point

Tsipras revealed that he began to doubt his finance minister quite early on.

“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the front pages of magazines globally … he gave the impression he relished his new role.”

When the minister proposed a backup strategy involving creating a parallel currency and distributing coupons to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”

Lasting Rebuke

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

Tsipras also claimed that his aggressive approach left him increasingly isolated among peers, put Greece at risk, and assisted hawks who were advocating Grexit.

This account of history has been met with fury along with shock in some quarters, while the former minister has kept a conspicuous quiet on the matter.