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In a recently unveiled personal account, named Ithaki, the former leader Alexis Tsipras spares no criticism as he reflects on that chaotic period of Greece's debt drama.

An Unconventional Appointment

According to Tsipras's version, Tsipras selected that maverick economist Varoufakis as the treasury head largely because of the latter's worldwide fame and Varoufakis's very persuasive skills when it came to speaker.

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

Clashing Agendas

The former leader suggests that Varoufakis possessed his own motives that included advancing Varoufakis's books and testing out his own theories using Greece rather than genuinely advocating its financial survival.

Tsipras noted how those discussions to prevent insolvency were “not just a method to secure a better deal for the country. They became a test, an historic opportunity to prove the validity of his economic theories.”

Critical Talks

Amid tense discussions, the country came perilously close to exiting the single currency area.

On the line lay not only the country's future but also those severe austerity policies demanded in return for financial aid from foreign lenders.

Unsuccessful Alternatives

Attempts to find financing elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, went unanswered.

Helping Greece would be equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.

Referendum Followed by Reversal

That summer, the punitive conditions were put to a public vote, an action that threw the EU into a deeper existential crisis.

Although the vote was carried decisively by those against the cuts, the prime minister was forced but to reject its outcome and agree to a rescue deal with creditors which proved to be even harsher.

Breaking Point

Tsipras claimed that he began to doubt his finance minister relatively soon.

“Varoufakis was the public image of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … it seemed he relished his new role.”

When Varoufakis proposed a contingency plan involving establishing a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised that it was game over and asked him: “Can you be serious?”

Enduring Criticism

Within the memoir, Tsipras concludes how Varoufakis had proved himself “unsuitable for a deal that required complex and sensitive management.”

Tsipras also wrote that his aggressive style left him increasingly isolated among peers, endangered the country, while helped hardliners that were pushing for Grexit.

The retelling of events has been met with fury along with shock among certain groups, while Varoufakis has so far maintained a deafening silence on the matter.