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In a newly released personal account, named Ithaki, the former premier Alexis Tsipras spares no criticism while he examines the turbulent era of Greece's financial crisis.

A Controversial Appointment

According to Tsipras's version, Tsipras chose that unorthodox economist Varoufakis as his treasury head largely because of the latter's worldwide fame and Varoufakis's highly compelling abilities when it came to public orator.

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

Conflicting Agendas

Tsipras suggests how Varoufakis had a personal motives that included promoting his books as well as testing out his own game theories using Greece instead of genuinely advocating its economic stability.

Tsipras explained how the negotiations to avoid bankruptcy became “not only a way to secure improved terms for the country. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's economic theories.”

High-Stakes Negotiations

During volatile negotiations, the country came dangerously close to leaving the single currency area.

On the line lay not only Greece's future but also those harsh austerity policies demanded in return for financial aid from international creditors.

Unsuccessful Alternatives

Efforts to find funds from other sources, such as a desperate appeal to Russia to buy Greek bonds, fell on stony ground.

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

Referendum Followed by Reversal

In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action that plunged the EU into a further existential crisis.

Although the vote was won decisively by voters who opposed the cuts, the prime minister had little option but to ignore the result and negotiate a rescue deal with foreign lenders that proved to be tougher.

Breaking Point

Tsipras claimed that he started questioning Varoufakis relatively soon.

“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”

After Varoufakis proposed a contingency plan involving creating a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised that it was game over questioning him: “Can you be serious?”

Enduring Rebuke

Within the book, Tsipras concludes how Varoufakis had proved himself “unfit for an agreement that required complex and delicate handling.”

Tsipras also wrote that his confrontational style left him more and more alone with colleagues, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.

The account of history has provoked fury and shock in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.