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Within his freshly published memoir, named Ithaki, the ex- premier Alexis Tsipras does not hold back as he revisits the chaotic period of Greece's economic turmoil.

A Controversial Choice

According to Tsipras's recollections, he appointed the unorthodox economist Yanis Varoufakis as the finance minister mainly due to his worldwide fame and his very persuasive skills when it came to public orator.

“In reality, he was, actually, more of a personality rather than an economic expert,” stated Tsipras.

Conflicting Agendas

The former leader suggests how Varoufakis had a personal motives which involved advancing his books and experimenting with his game theories on the nation rather than truly advocating its economic stability.

He wrote how those talks to stave off bankruptcy became “not only a method to secure a better deal for Greece. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”

High-Stakes Negotiations

Amid volatile discussions, Greece found itself dangerously on the brink of exiting the single currency area.

At stake was not only the country's destiny and the harsh austerity measures demanded in exchange for financial aid by foreign lenders.

Unsuccessful Alternatives

Efforts to secure funds from other sources, including an urgent appeal to Russia to purchase Greek government bonds, were rejected.

Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.

Referendum Followed by U-Turn

That summer, those punitive bailout terms were subjected to a popular referendum, an action that plunged Europe into deeper crisis of identity.

Even though the referendum was won decisively by those against the cuts, Tsipras was forced to ignore the result then agree to a bailout package from creditors that proved to be even harsher.

Breaking Point

The ex-PM revealed how he began to doubt Varoufakis relatively soon.

“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”

After Varoufakis proposed a backup strategy that included establishing a parallel currency and issuing coupons to retirees, the leader knew that it was the end and asked Varoufakis: “Is this for real?”

Enduring Criticism

In the memoir, the author concludes that Varoufakis demonstrated himself “unsuitable for a deal that required complex and sensitive management.”

Tsipras further wrote how Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were pushing for Grexit.

This retelling of history has been met with fury and shock among certain groups, while the former minister has kept a conspicuous quiet on the matter.