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In a recently unveiled memoir, called Ithaki, the former leader Tsipras does not hold back as he revisits the chaotic period of Greece's debt drama.

An Unconventional Choice

According to the ex-PM's version, he selected the unorthodox economist Yanis Varoufakis to be the treasury head mainly due to the latter's global profile along with his very persuasive skills when it came to communicator.

“He was, in reality, more of a star rather than an economist,” wrote Tsipras.

Conflicting Agendas

The former leader alleges how Varoufakis had his own agenda that involved advancing Varoufakis's publications and testing out his own theories using Greece rather than genuinely fighting for its financial survival.

Tsipras wrote how the negotiations to stave off bankruptcy were “not just a method to secure improved terms for Greece. They were an experiment, a monumental chance to demonstrate the validity of his theories.”

High-Stakes Talks

During rollercoaster negotiations, the country came perilously on the brink of leaving the single currency area.

At stake lay both the country's future but also those severe cutbacks required in return for rescue loans from foreign lenders.

Unsuccessful Options

Efforts to find financing from other sources, including an urgent plea to Russia to purchase Greek government bonds, went unanswered.

Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.

Public Vote Followed by Reversal

In July 2015, the punitive bailout terms were put to a public vote, a move which threw the EU into a deeper crisis of identity.

Although the vote was carried resoundingly by those against austerity, Tsipras had little option to reject its outcome then negotiate a rescue deal with creditors that proved to be tougher.

Breaking Point

The ex-PM revealed how he started questioning his finance minister relatively soon.

“He was the public image of the talks, the man who attracted publicity, who graced the covers of publications the world over … it seemed he relished his new role.”

When the minister outlined a backup strategy involving creating a secondary currency and distributing coupons to pensioners, Tsipras said he realised it was the end and asked him: “Can you be serious?”

Enduring Rebuke

Within the memoir, Tsipras asserts that Varoufakis had proved himself “unfit for a deal demanding intricate and delicate handling.”

Tsipras further wrote how Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.

This retelling of history has been met with anger along with shock in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.