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In a freshly published memoir, named Ithaki, the former leader Tsipras does not hold back as he revisits that turbulent period during Greece's debt drama.

An Unconventional Choice

According to Tsipras's recollections, he chose the unorthodox academic Yanis Varoufakis to be his finance minister mainly due to his worldwide fame and his highly compelling abilities when it came to communicator.

“In reality, he was, actually, more of a celebrity rather than an economic expert,” stated the 51-year-old.

Clashing Agendas

Tsipras claims that his finance chief possessed his own motives which included promoting Varoufakis's publications as well as testing out his economic models on Greece rather than genuinely advocating the country's financial survival.

He explained how those discussions to prevent bankruptcy became “not only a way to secure a better deal for the country. They were an experiment, an historic chance to demonstrate the validity of his theories.”

Critical Talks

During rollercoaster negotiations, the country found itself perilously close to exiting the single currency area.

At stake was not only Greece's future but also the punishing cutbacks demanded in return for bailout funds from foreign lenders.

Unsuccessful Options

Efforts to secure financing from other sources, including a desperate plea to Russia to buy Greek bonds, were rejected.

Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.

Public Vote and U-Turn

That summer, those excoriating bailout terms were subjected to a popular referendum, an action that plunged Europe into deeper existential crisis.

Even though the referendum was won decisively by voters against the cuts, the prime minister was forced but to reject its outcome then negotiate a bailout package with foreign lenders that turned out to be even harsher.

Breaking Point

The ex-PM revealed that he started questioning his finance minister quite early on.

“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”

After the minister outlined a backup strategy involving establishing a parallel currency and issuing vouchers to retirees, Tsipras knew it was the end and asked Varoufakis: “Is this for real?”

Lasting Rebuke

In the memoir, the author asserts how Varoufakis demonstrated himself “unsuitable for a deal that required complex and sensitive management.”

He also wrote that his confrontational style made him more and more alone among peers, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.

The account of events has provoked anger along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet on the matter.