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Within his recently unveiled memoir, named Ithaki, the ex- leader Alexis Tsipras spares no criticism as he revisits that turbulent period of Greece's debt drama.

An Unconventional Appointment

According to Tsipras's account, Tsipras appointed the unorthodox economist Varoufakis as his finance minister mainly due to his international reputation and Varoufakis's very persuasive abilities when it came to communicator.

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

Conflicting Agendas

The former leader alleges how Varoufakis had a personal motives that included promoting his books and experimenting with his own theories on the nation rather than genuinely advocating the country's financial survival.

He noted that the negotiations to avoid bankruptcy became “not only a way of achieving improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the validity of his economic theories.”

Critical Negotiations

During tense negotiations, Greece found itself perilously close to exiting the eurozone.

At stake lay both Greece's future but also those severe austerity policies demanded in return for rescue loans from international creditors.

Failed Alternatives

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

Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.

Public Vote Followed by Reversal

In July 2015, the harsh bailout terms were put to a public vote, a move which threw the EU into a deeper crisis of identity.

Even though the referendum was carried resoundingly by voters against austerity, the prime minister had little option to reject its outcome then agree to a rescue deal from creditors which proved to be tougher.

Breaking Point

The ex-PM revealed how he started questioning Varoufakis relatively soon.

“He was the public image of the talks, the man who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he relished the spotlight.”

When Varoufakis outlined a backup strategy that included establishing a secondary currency as well as issuing coupons to pensioners, the leader said he realised that it was the end and asked Varoufakis: “Can you be serious?”

Enduring Rebuke

In the memoir, the author concludes that his former ally had proved himself “unsuitable for an agreement that required intricate and delicate management.”

He further claimed that his aggressive style made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were advocating a Greek exit from the euro.

The retelling of history has provoked fury and shock among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.