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Within his freshly published memoir, called Ithaki, the former prime minister Tsipras pulls no punches while he reflects on the turbulent era of Greece's financial crisis.

An Unconventional Choice

As per the ex-PM's version, Tsipras selected the maverick economist Varoufakis as the finance minister primarily due to his international reputation along with his highly compelling abilities as a speaker.

“In reality, he was, actually, more like a personality rather than an economic expert,” recalled Tsipras.

Conflicting Priorities

The former leader claims that Varoufakis had a personal agenda that included advancing his books and experimenting with his economic models on Greece instead of truly advocating its financial survival.

Tsipras wrote that the talks to stave off insolvency were “not just a way to secure improved terms for the country. They were an experiment, an historic chance to prove the validity of Varoufakis's ideas.”

Critical Negotiations

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

At stake was not only Greece's destiny but also those harsh austerity measures demanded in exchange for bailout funds by international creditors.

Unsuccessful Alternatives

Attempts to secure financing elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.

Assisting the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.

Public Vote and Reversal

In July 2015, the punitive bailout terms were put to a popular referendum, an action that threw the EU into further existential crisis.

Even though the vote was won resoundingly by voters against austerity, the prime minister had little option but to ignore the result then negotiate a bailout package from creditors that turned out to be more severe.

Final Straw

Tsipras claimed how he started questioning Varoufakis relatively soon.

“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the covers of publications the world over … it seemed he was enjoying the spotlight.”

After the minister proposed a contingency plan involving creating a parallel currency as well as issuing coupons to pensioners, the leader said he realised it was the end and asked Varoufakis: “Are you serious?”

Lasting Criticism

In the book, Tsipras concludes that Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and delicate management.”

He further claimed that Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were pushing for a Greek exit from the euro.

This retelling of history has been met with fury and shock in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.