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In a recently unveiled memoir, named Ithaki, the former premier Alexis Tsipras spares no criticism as he reflects on the chaotic period of Greece's debt drama.

An Unconventional Choice

As per Tsipras's version, Tsipras chose that maverick economist Yanis Varoufakis as the treasury head mainly because of the latter's worldwide fame along with his “extremely attractive” skills when it came to speaker.

“In reality, he was, truthfully, more of a personality and less of an economic expert,” recalled the 51-year-old.

Clashing Agendas

The former leader suggests that his finance chief possessed a personal agenda that included advancing his books as well as testing out his own game theories on the nation rather than genuinely fighting for the country's economic stability.

Tsipras explained that those discussions to prevent bankruptcy became “not only a method to secure improved terms for the country. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”

Critical Negotiations

During tense negotiations, the country found itself perilously close to exiting the single currency area.

At stake was both the country's future but also the severe austerity policies demanded in return for rescue loans by international creditors.

Failed Options

Attempts to find financing elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.

Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.

Referendum Followed by U-Turn

That summer, those harsh conditions were put to a popular referendum, a move which plunged Europe into deeper existential crisis.

Although the referendum was won decisively by voters against the cuts, Tsipras had little option but to ignore the result and negotiate a rescue deal from foreign lenders that turned out to be more severe.

Final Straw

Tsipras claimed that he began to doubt Varoufakis quite early on.

“He was the public image of negotiation, the figure who drew media attention, who appeared on the covers of publications globally … it seemed he relished his new role.”

When Varoufakis outlined a backup strategy involving establishing a parallel currency and issuing coupons to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Are you serious?”

Enduring Criticism

In the memoir, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement that required complex and sensitive management.”

He further wrote how his confrontational style made him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.

This account of history has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has kept a deafening silence regarding these claims.