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In a newly released personal account, called Ithaki, the former prime minister Alexis Tsipras pulls no punches as he reflects on that chaotic period of Greece's economic turmoil.

A Controversial Choice

According to Tsipras's account, he selected the unorthodox economist Yanis Varoufakis to be his finance minister largely due to the latter's global profile and Varoufakis's very persuasive skills when it came to communicator.

“He was, actually, more of a celebrity rather than an economist,” stated Tsipras.

Clashing Agendas

Tsipras alleges how his finance chief had a personal motives that involved advancing his publications and testing out his own theories using the nation instead of truly advocating the country's financial survival.

He wrote how those negotiations to avoid bankruptcy became “not just a method of achieving a better deal for Greece. They were a test, an historic chance to prove the validity of Varoufakis's ideas.”

High-Stakes Negotiations

During tense discussions, Greece found itself dangerously on the brink of leaving the eurozone.

At stake lay not only Greece's destiny but also those punishing austerity policies demanded in return for rescue loans from international creditors.

Unsuccessful Options

Efforts to secure financing elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.

Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.

Public Vote and Reversal

That summer, those harsh bailout terms were subjected to a popular referendum, an action that threw the EU into deeper existential crisis.

Even though the vote was won decisively by voters who opposed the cuts, Tsipras was forced to reject its outcome and agree to a rescue deal from creditors which proved to be even harsher.

Breaking Point

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

“He was the public image of the talks, the figure who drew media attention, who graced the covers of magazines the world over … he gave the impression he relished his new role.”

After the minister proposed a contingency plan that included creating a secondary currency and issuing coupons to retirees, the leader knew it was game over questioning him: “Is this for real?”

Lasting Rebuke

In the book, Tsipras concludes how his former ally demonstrated himself “unfit for a deal that required complex and delicate handling.”

He also wrote how Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.

The retelling of events has provoked fury along with shock in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.