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In a newly released autobiography, titled Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on that chaotic era of Greece's debt drama.

A Controversial Appointment

According to the ex-PM's recollections, he appointed that maverick academic Yanis Varoufakis to be his treasury head primarily due to the latter's global profile and his “extremely attractive” skills as a public orator.

“In reality, he was, in reality, more like a personality and less of an economist,” stated Tsipras.

Clashing Agendas

Tsipras claims that his finance chief possessed a personal motives that involved promoting his books as well as experimenting with his economic models using Greece rather than truly advocating the country's economic stability.

He explained how those negotiations to avoid insolvency were “not just a way of achieving a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of his ideas.”

High-Stakes Talks

Amid tense discussions, Greece found itself dangerously on the brink of exiting the single currency area.

At stake was both the country's destiny and those harsh austerity policies demanded in exchange for rescue loans from foreign lenders.

Failed Alternatives

Efforts to secure funds from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.

Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.

Referendum Followed by U-Turn

That summer, the harsh bailout terms were put to a popular referendum, an action which threw Europe into further crisis of identity.

Although the referendum was carried decisively by those who opposed austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal with creditors which proved to be more severe.

Breaking Point

The ex-PM claimed how he started questioning his finance minister quite early on.

“He was the public image of the talks, the figure who drew publicity, who appeared on the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”

When Varoufakis outlined a contingency plan involving establishing a parallel currency and distributing coupons to pensioners, Tsipras said he realised that it was the end and asked him: “Is this for real?”

Lasting Rebuke

In the book, Tsipras concludes that Varoufakis had proved himself “unsuitable for an agreement that required complex and sensitive management.”

He further wrote that his aggressive approach left him more and more alone among peers, put Greece at risk, and assisted hawks that were pushing for a Greek exit from the euro.

The retelling of events has provoked anger along with shock in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.