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Within his recently unveiled personal account, named Ithaki, the former premier Alexis Tsipras spares no criticism as he revisits the turbulent era during Greece's debt drama.

A Controversial Choice

According to the ex-PM's recollections, Tsipras appointed the maverick academic Varoufakis as the treasury head largely because of the latter's global profile and Varoufakis's “extremely attractive” skills when it came to speaker.

“In reality, he was, truthfully, more of a personality and less of an economist,” wrote Tsipras.

Conflicting Agendas

The former leader alleges how his finance chief had a personal agenda that included advancing Varoufakis's publications as well as experimenting with his game theories on the nation rather than truly advocating the country's economic stability.

Tsipras explained that those negotiations to prevent bankruptcy became “not only a way of achieving improved terms for Greece. They were an experiment, a monumental opportunity to prove the validity of his ideas.”

High-Stakes Talks

During volatile discussions, the country found itself dangerously close to exiting the single currency area.

On the line was both the country's future but also those severe austerity measures required in exchange for bailout funds from international creditors.

Failed Alternatives

Attempts to find funds elsewhere, such as an urgent plea to Russia to buy Greek government bonds, fell on stony ground.

Helping Greece would be equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.

Referendum Followed by U-Turn

In July 2015, those excoriating bailout terms were put to a public vote, an action that threw Europe into a deeper existential crisis.

Even though the referendum was carried resoundingly by voters against the cuts, Tsipras was forced to reject its outcome and negotiate a rescue deal with foreign lenders that turned out to be more severe.

Final Straw

The ex-PM revealed how he began to doubt Varoufakis relatively soon.

“He was the public image of the talks, the figure who drew media attention, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”

When Varoufakis proposed a backup strategy that included establishing a secondary currency and issuing vouchers to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Are you serious?”

Lasting Criticism

In the book, the author concludes that Varoufakis demonstrated himself “unsuitable for an agreement that required complex and delicate management.”

He further wrote how his confrontational approach made him more and more alone among peers, endangered the country, and helped hawks that were pushing for a Greek exit from the euro.

The retelling of events has provoked anger along with shock among certain groups, whereas the former minister has kept a deafening silence on the matter.