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Within his newly released memoir, titled Ithaki, the former prime minister Tsipras pulls no punches while he revisits that chaotic era of Greece's debt drama.

A Controversial Choice

According to Tsipras's account, Tsipras selected the unorthodox academic Varoufakis as the finance minister primarily because of the latter's international reputation and his “extremely attractive” skills when it came to speaker.

“He was, actually, more of a star and less of an economist,” stated the 51-year-old.

Conflicting Agendas

Tsipras claims that his finance chief possessed a personal agenda that included advancing his books and experimenting with his theories on the nation rather than truly advocating its economic stability.

Tsipras explained how the negotiations to prevent insolvency became “not just a way of achieving a better deal for Greece. They became an experiment, a monumental chance to prove the validity of Varoufakis's ideas.”

Critical Negotiations

Amid rollercoaster discussions, the country found itself perilously on the brink of exiting the eurozone.

At stake lay not only the country's destiny and those severe austerity policies required in exchange for financial aid from international creditors.

Unsuccessful Options

Efforts to find financing from other sources, including a desperate plea to Russia to buy Greek bonds, fell on stony ground.

Assisting the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras in Moscow.

Referendum and Reversal

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

Even though the vote was carried resoundingly by voters against austerity, the prime minister was forced to ignore the result and agree to a bailout package with creditors which turned out to be more severe.

Breaking Point

The ex-PM revealed how he began to doubt his finance minister quite early on.

“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”

When Varoufakis outlined a backup strategy that included establishing a parallel currency as well as issuing vouchers to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Are you serious?”

Lasting Criticism

In the book, the author concludes how Varoufakis had proved himself to be “unfit for an agreement demanding intricate and delicate management.”

He further wrote that his confrontational style left him increasingly isolated with colleagues, put Greece at risk, and helped hawks that were advocating a Greek exit from the euro.

The account of events has been met with fury along with shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.