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In a newly released personal account, named Ithaki, the ex- premier Tsipras pulls no punches as he revisits that chaotic period of Greece's debt drama.

An Unconventional Choice

In the ex-PM's account, he chose that maverick academic Varoufakis as the treasury head largely due to his international reputation and Varoufakis's highly compelling skills as a speaker.

“In reality, he was, in reality, more of a personality and less of an economic expert,” wrote Tsipras.

Clashing Agendas

Tsipras suggests how his finance chief possessed his own motives that included promoting Varoufakis's publications as well as experimenting with his own theories on Greece instead of genuinely advocating the country's economic stability.

Tsipras noted that those discussions to avoid insolvency became “not only a way of achieving a better deal for Greece. They were a test, a monumental chance to prove the truth of Varoufakis's theories.”

Critical Talks

Amid volatile negotiations, Greece found itself dangerously on the brink of exiting the single currency area.

On the line lay both the country's destiny and the punishing austerity policies required in return for rescue loans by foreign lenders.

Unsuccessful Options

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

Helping the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.

Public Vote Followed by U-Turn

In July 2015, those excoriating conditions were subjected to a public vote, a move that threw the EU into deeper existential crisis.

Although the vote was carried decisively by those against austerity, the prime minister had little option to ignore the result and negotiate a rescue deal with creditors that turned out to be tougher.

Breaking Point

The ex-PM claimed that he began to doubt his finance minister quite early on.

“He was the public image of negotiation, the figure who attracted publicity, who graced the covers of publications the world over … he gave the impression he relished his new role.”

After Varoufakis proposed a contingency plan that included creating a secondary currency as well as issuing coupons to pensioners, the leader knew that it was the end questioning him: “Are you serious?”

Lasting Criticism

Within the book, the author concludes that his former ally demonstrated himself to be “unsuitable for a deal demanding complex and sensitive handling.”

He further wrote that Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners who were pushing for Grexit.

The retelling of events has been met with anger along with shock in some quarters, while the former minister has maintained a deafening silence on the matter.