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Within his recently unveiled personal account, called Ithaki, the former leader Alexis Tsipras pulls no punches as he reflects on that turbulent era during Greece's debt drama.

An Unconventional Appointment

As per Tsipras's account, he selected that maverick academic Yanis Varoufakis as his finance minister primarily due to the latter's international reputation and Varoufakis's very persuasive abilities when it came to speaker.

“In reality, he was, in reality, more of a celebrity and less of an economist,” recalled the 51-year-old.

Conflicting Priorities

The former leader suggests how Varoufakis had his own agenda that involved promoting Varoufakis's books as well as testing out his own economic models on the nation rather than truly fighting for the country's economic stability.

Tsipras explained how the negotiations to avoid insolvency were “not only a way of achieving a better deal for Greece. They became an experiment, a monumental chance to demonstrate the validity of Varoufakis's theories.”

Critical Negotiations

Amid rollercoaster discussions, the country came perilously close to exiting the single currency area.

At stake lay both Greece's destiny but also the harsh austerity measures required in exchange for bailout funds from foreign lenders.

Failed Options

Efforts to secure financing elsewhere, such as a desperate plea to Russia to buy Greek bonds, were rejected.

Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.

Public Vote and U-Turn

That summer, the punitive bailout terms were put to a public vote, an action that threw Europe into a further existential crisis.

Although the referendum was carried resoundingly by those who opposed austerity, Tsipras was forced but to ignore the result then negotiate a rescue deal with foreign lenders which turned out to be tougher.

Breaking Point

The ex-PM claimed how he started questioning his finance minister relatively soon.

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

After the minister outlined a contingency plan that included creating a secondary currency as well as distributing vouchers to pensioners, the leader knew it was the end questioning Varoufakis: “Are you serious?”

Enduring Rebuke

In the book, the author concludes how Varoufakis demonstrated himself to be “unfit for a deal that required intricate and sensitive handling.”

He also wrote how Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.

This account of history has been met with fury along with shock among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.