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In a recently unveiled memoir, named Ithaki, the former premier Alexis Tsipras spares no criticism as he reflects on the turbulent period of Greece's debt drama.

An Unconventional Appointment

According to the ex-PM's recollections, he appointed that maverick economist Yanis Varoufakis as the finance minister largely due to his global profile along with his very persuasive abilities when it came to communicator.

“He was, actually, more of a personality rather than an economist,” recalled Tsipras.

Clashing Agendas

Tsipras claims that Varoufakis had his own agenda which involved promoting Varoufakis's books as well as experimenting with his own game theories using the nation instead of genuinely advocating the country's financial survival.

He explained that the talks to stave off bankruptcy were “not just a way of achieving a better deal for the country. They became an experiment, a monumental chance to demonstrate the validity of his theories.”

High-Stakes Negotiations

During rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the single currency area.

On the line lay both Greece's destiny but also the harsh austerity policies demanded in exchange for rescue loans by international creditors.

Failed Options

Attempts to find funds from other sources, including an urgent appeal to Russia to purchase Greek bonds, were rejected.

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

Referendum and Reversal

In July 2015, those excoriating bailout terms were subjected to a public vote, a move which plunged Europe into a deeper existential crisis.

Even though the referendum was carried decisively by those against the cuts, Tsipras was forced to ignore the result then negotiate a rescue deal with creditors that proved to be even harsher.

Breaking Point

Tsipras claimed that he started questioning his finance minister relatively soon.

“He was the face of the talks, the figure who drew publicity, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”

After Varoufakis proposed a backup strategy involving establishing a secondary currency and distributing vouchers to pensioners, the leader said he realised it was the end and asked him: “Can you be serious?”

Lasting Criticism

In the memoir, Tsipras asserts that Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and delicate handling.”

Tsipras further claimed how Varoufakis's aggressive style made him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.

This account of events has provoked anger along with stunned disbelief among certain groups, while the former minister has maintained a deafening silence regarding these claims.