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In a freshly published autobiography, titled Ithaki, the former premier Alexis Tsipras pulls no punches as he reflects on that chaotic era during Greece's financial crisis.

A Controversial Appointment

According to Tsipras's version, he chose the maverick academic Varoufakis to be the finance minister largely because of the latter's worldwide fame along with Varoufakis's very persuasive skills as a speaker.

“In reality, he was, in reality, more of a star rather than an economist,” recalled the 51-year-old.

Conflicting Priorities

The former leader claims how his finance chief possessed a personal motives which involved advancing his books as well as experimenting with his own theories on the nation instead of genuinely advocating its economic stability.

Tsipras explained how the talks to avoid bankruptcy became “not just a way to secure improved terms for the country. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's economic theories.”

High-Stakes Talks

Amid tense negotiations, the country came dangerously close to leaving the single currency area.

At stake was not only the country's future but also those severe austerity policies required in exchange for bailout funds from foreign lenders.

Unsuccessful Options

Attempts to find financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.

Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.

Referendum and U-Turn

That summer, those harsh conditions were subjected to a public vote, an action which plunged the EU into a further existential crisis.

Although the vote was won resoundingly by those against austerity, Tsipras was forced but to ignore the result then agree to a bailout package from foreign lenders that proved to be even harsher.

Breaking Point

Tsipras claimed that he started questioning his finance minister relatively soon.

“He was the public image of the talks, the figure who drew publicity, who graced the front pages of publications globally … he gave the impression he relished the spotlight.”

After Varoufakis proposed a contingency plan that included establishing a secondary currency and issuing coupons to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Is this for real?”

Enduring Rebuke

In the book, the author asserts how his former ally had proved himself “unsuitable for a deal demanding intricate and sensitive handling.”

He further wrote that his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, and helped hawks that were advocating a Greek exit from the euro.

The account of history has provoked anger along with stunned disbelief among certain groups, while the former minister has maintained a deafening silence on the matter.