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Within his recently unveiled memoir, named Ithaki, the former prime minister Tsipras spares no criticism as he reflects on that chaotic period during Greece's economic turmoil.

A Controversial Choice

According to the ex-PM's version, Tsipras chose the maverick academic Varoufakis as his finance minister mainly because of his worldwide fame along with his very persuasive skills when it came to public orator.

“He was, in reality, more of a star rather than an economic expert,” wrote Tsipras.

Conflicting Agendas

Tsipras alleges how his finance chief had a personal motives which included advancing his books and experimenting with his economic models on Greece instead of genuinely advocating the country's economic stability.

He explained how those talks to avoid bankruptcy became “not only a method to secure improved terms for the country. They became a test, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”

High-Stakes Negotiations

Amid volatile discussions, the country came dangerously on the brink of exiting the eurozone.

At stake lay both Greece's future but also the severe cutbacks required in return for rescue loans from international creditors.

Failed Alternatives

Attempts to find financing elsewhere, such as an urgent appeal to Russia to buy Greek bonds, went unanswered.

Assisting Greece was equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.

Public Vote Followed by Reversal

In July 2015, those harsh conditions were subjected to a popular referendum, a move which plunged the EU into deeper existential crisis.

Even though the vote was won resoundingly by those against austerity, Tsipras had little option but to ignore the result and agree to a bailout package from foreign lenders which proved to be more severe.

Breaking Point

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

“He was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”

When the minister outlined a backup strategy that included creating a parallel currency and distributing coupons to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Is this for real?”

Enduring Criticism

In the book, Tsipras asserts how his former ally had proved himself to be “unfit for a deal that required intricate and delicate handling.”

He also claimed that his confrontational style left him more and more alone among peers, put Greece at risk, and assisted hawks that were pushing for a Greek exit from the euro.

This retelling of events has been met with anger and stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence on the matter.