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Within his newly released personal account, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches as he examines that chaotic era of Greece's financial crisis.

A Controversial Appointment

According to the ex-PM's version, Tsipras selected the unorthodox economist Varoufakis as his finance minister largely due to his worldwide fame along with Varoufakis's very persuasive skills as a public orator.

“He was, truthfully, more like a star rather than an economist,” recalled Tsipras.

Conflicting Priorities

Tsipras alleges that Varoufakis possessed a personal agenda that involved promoting his books as well as experimenting with his own economic models using Greece rather than truly advocating the country's economic stability.

Tsipras explained that those talks to prevent bankruptcy became “not just a way to secure improved terms for the country. They were an experiment, a monumental opportunity to prove the truth of his ideas.”

High-Stakes Negotiations

During rollercoaster discussions, Greece found itself perilously close to leaving the eurozone.

On the line lay both the country's future but also those harsh austerity policies required in exchange for rescue loans from foreign lenders.

Failed Alternatives

Efforts to secure financing from other sources, including an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.

Helping the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.

Referendum Followed by Reversal

That summer, those excoriating conditions were subjected to a popular referendum, an action which plunged Europe into a further existential crisis.

Although the referendum was carried decisively by those against austerity, the prime minister had little option but to ignore the result then negotiate a bailout package from foreign lenders that turned out to be tougher.

Final Straw

Tsipras claimed that he began to doubt Varoufakis relatively soon.

“Varoufakis was the face of the talks, the figure who attracted media attention, who graced the covers of publications the world over … it seemed he was enjoying his new role.”

After Varoufakis outlined a contingency plan involving establishing a secondary currency and distributing coupons to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Can you be serious?”

Lasting Rebuke

In the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate management.”

Tsipras also claimed that his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.

This retelling of history has been met with anger and shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.