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In a freshly published personal account, titled Ithaki, the former prime minister Tsipras spares no criticism as he revisits that chaotic period of Greece's debt drama.

An Unconventional Choice

According to Tsipras's account, Tsipras chose that unorthodox economist Varoufakis as his treasury head primarily due to his international reputation and his “extremely attractive” abilities as a public orator.

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

Clashing Priorities

The former leader claims that his finance chief had his own motives which involved advancing his publications and testing out his theories on the nation rather than truly fighting for the country's economic stability.

Tsipras noted how the discussions to prevent insolvency were “not just a method of achieving improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”

Critical Negotiations

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

At stake was both Greece's future but also those punishing austerity measures required in exchange for financial aid by international creditors.

Failed Options

Efforts to find financing from other sources, such as an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.

Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.

Public Vote Followed by U-Turn

In July 2015, the excoriating bailout terms were subjected to a public vote, an action which plunged Europe into deeper existential crisis.

Although the referendum was won resoundingly by voters against austerity, Tsipras had little option but to ignore the result then agree to a bailout package from foreign lenders that turned out to be tougher.

Breaking Point

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

“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”

When the minister proposed a contingency plan that included establishing a secondary currency and issuing vouchers to retirees, the leader knew it was game over and asked Varoufakis: “Are you serious?”

Lasting Rebuke

Within the memoir, the author concludes that his former ally demonstrated himself “unfit for an agreement that required intricate and delicate management.”

Tsipras further wrote that Varoufakis's confrontational approach made him increasingly isolated among peers, put Greece at risk, and helped hawks that were advocating Grexit.

The retelling of history has been met with anger and stunned disbelief in some quarters, while Varoufakis has maintained a deafening silence on the matter.