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Within his recently unveiled personal account, called Ithaki, the former prime minister Alexis Tsipras pulls no punches as he revisits the chaotic period during Greece's economic turmoil.

A Controversial Choice

In the ex-PM's recollections, Tsipras chose that maverick academic Varoufakis to be the finance minister largely because of his international reputation along with Varoufakis's very persuasive skills when it came to speaker.

“He was, truthfully, more of a star and less of an economic expert,” stated Tsipras.

Conflicting Agendas

The former leader suggests how his finance chief had his own motives that involved promoting his publications and testing out his economic models using Greece instead of genuinely advocating its financial survival.

He wrote that those talks to stave off insolvency were “not only a way of achieving a better deal for the country. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”

High-Stakes Talks

During tense discussions, the country found itself perilously on the brink of leaving the single currency area.

At stake lay not only the country's destiny but also those punishing austerity policies demanded in exchange for rescue loans from foreign lenders.

Failed Options

Efforts to find funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.

Assisting Greece would be tantamount to throwing money into the garbage, Putin reportedly informed Tsipras during their meeting.

Public Vote Followed by Reversal

That summer, those harsh bailout terms were put to a public vote, a move that plunged Europe into deeper existential crisis.

Even though the referendum was carried resoundingly by voters against the cuts, the prime minister had little option to reject its outcome and negotiate a bailout package from foreign lenders which turned out to be tougher.

Breaking Point

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

“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”

When Varoufakis outlined a backup strategy that included creating a parallel currency and distributing coupons to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Are you serious?”

Enduring Criticism

Within the book, the author asserts how Varoufakis demonstrated himself “unfit for a deal that required complex and delicate handling.”

Tsipras further wrote that Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.

The retelling of history has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.