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Within his newly released memoir, called Ithaki, the former prime minister Alexis Tsipras does not hold back as he examines that turbulent era during Greece's debt drama.

An Unconventional Appointment

In the ex-PM's version, Tsipras chose the maverick economist Yanis Varoufakis to be the finance minister largely due to his international reputation and his highly compelling skills when it came to speaker.

“He was, in reality, more of a personality rather than an economic expert,” stated Tsipras.

Clashing Agendas

Tsipras suggests that his finance chief possessed his own motives that involved advancing Varoufakis's books as well as experimenting with his game theories on the nation instead of truly advocating the country's financial survival.

He noted how the discussions to stave off insolvency were “not only a method to secure a better deal for the country. They became a test, a monumental chance to prove the validity of Varoufakis's economic theories.”

High-Stakes Negotiations

During rollercoaster negotiations, the country came perilously close to leaving the single currency area.

On the line lay both Greece's future but also those punishing austerity measures demanded in return for rescue loans by foreign lenders.

Unsuccessful Alternatives

Attempts to secure financing from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.

Helping Greece was tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.

Public Vote Followed by U-Turn

That summer, those excoriating conditions were put to a popular referendum, a move which threw the EU into a deeper crisis of identity.

Even though the referendum was carried resoundingly by those against the cuts, Tsipras was forced but to reject its outcome then negotiate a rescue deal with foreign lenders that turned out to be tougher.

Breaking Point

Tsipras revealed how he started questioning Varoufakis relatively soon.

“He was the face of the talks, the figure who attracted publicity, who appeared on the covers of publications globally … it seemed he was enjoying his new role.”

When Varoufakis outlined a backup strategy that included creating a secondary currency and issuing coupons to pensioners, the leader said he realised it was game over questioning Varoufakis: “Is this for real?”

Lasting Rebuke

In the book, the author concludes that his former ally had proved himself to be “unfit for a deal demanding intricate and delicate handling.”

He further wrote how his aggressive style left him increasingly isolated with colleagues, endangered the country, and assisted hawks that were pushing for Grexit.

The retelling of history has provoked fury and shock in some quarters, while the former minister has kept a deafening silence on the matter.