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

A Controversial Appointment

As per the ex-PM's version, Tsipras selected that maverick economist Yanis Varoufakis to be the finance minister mainly because of his international reputation and Varoufakis's “extremely attractive” abilities when it came to speaker.

“He was, actually, more like a star rather than an economist,” stated Tsipras.

Conflicting Priorities

Tsipras claims how his finance chief possessed a personal agenda that included promoting his publications as well as experimenting with his theories using Greece instead of truly advocating the country's financial survival.

Tsipras explained how the talks to prevent bankruptcy became “not only a method of achieving a better deal for the country. They became a test, a monumental chance to prove the truth of his theories.”

High-Stakes Negotiations

Amid tense negotiations, Greece came perilously on the brink of exiting the single currency area.

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

Failed Alternatives

Attempts to find financing elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, were rejected.

Assisting the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.

Referendum Followed by Reversal

In July 2015, the harsh conditions were subjected to a popular referendum, a move which plunged the EU into further existential crisis.

Even though the vote was carried resoundingly by voters against the cuts, the prime minister had little option but to ignore the result then agree to a rescue deal with foreign lenders that proved to be tougher.

Final Straw

Tsipras revealed how he started questioning Varoufakis relatively soon.

“He was the face of negotiation, the man who drew media attention, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”

When the minister proposed a contingency plan involving creating a parallel currency as well as issuing vouchers to retirees, the leader said he realised it was game over questioning Varoufakis: “Is this for real?”

Enduring Criticism

In the book, the author asserts that his former ally demonstrated himself to be “unsuitable for an agreement that required intricate and delicate management.”

Tsipras also claimed how his confrontational style left him more and more alone with colleagues, put Greece at risk, and helped hardliners that were advocating Grexit.

This account of events has provoked anger along with shock in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.