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In a newly released autobiography, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism while he examines the chaotic period of Greece's financial crisis.

A Controversial Choice

According to the ex-PM's recollections, Tsipras appointed that maverick academic Yanis Varoufakis to be the finance minister mainly due to his worldwide fame and Varoufakis's “extremely attractive” abilities when it came to speaker.

“In reality, he was, truthfully, more of a celebrity and less of an economist,” wrote Tsipras.

Conflicting Agendas

Tsipras alleges how Varoufakis possessed his own motives that included promoting his books and testing out his economic models on the nation rather than genuinely fighting for the country's economic stability.

He wrote how the negotiations to avoid insolvency became “not only a method to secure a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of his economic theories.”

High-Stakes Negotiations

During rollercoaster negotiations, Greece came dangerously close to exiting the single currency area.

On the line was not only the country's future but also those harsh austerity measures required in return for financial aid by international creditors.

Failed Options

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

Assisting the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.

Referendum Followed by Reversal

That summer, the harsh bailout terms were put to a public vote, a move which plunged the EU into deeper existential crisis.

Even though the vote was won resoundingly by voters who opposed austerity, Tsipras was forced but to ignore the result then agree to a bailout package from creditors which proved to be more severe.

Final Straw

The ex-PM revealed that he started questioning Varoufakis quite early on.

“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”

When the minister proposed a contingency plan involving establishing a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised it was the end and asked him: “Are you serious?”

Enduring Rebuke

Within the memoir, the author asserts how Varoufakis had proved himself to be “unfit for an agreement that required complex and delicate management.”

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

The account of events has been met with anger along with shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.