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In a newly released autobiography, called Ithaki, the former premier Alexis Tsipras pulls no punches while he revisits the chaotic era of Greece's debt drama.

A Controversial Appointment

As per Tsipras's account, Tsipras appointed the unorthodox academic Varoufakis to be the finance minister largely due to his worldwide fame along with Varoufakis's very persuasive skills when it came to public orator.

“He was, truthfully, more like a celebrity and less of an economist,” recalled Tsipras.

Conflicting Agendas

The former leader alleges that Varoufakis had a personal motives which involved advancing his books as well as experimenting with his economic models on Greece rather than truly advocating its economic stability.

Tsipras wrote that the negotiations to avoid bankruptcy became “not just a way of achieving improved terms for the country. They were an experiment, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”

Critical Negotiations

During tense discussions, Greece found itself perilously close to leaving the eurozone.

On the line was both the country's destiny but also those harsh cutbacks demanded in return for rescue loans by international creditors.

Unsuccessful Alternatives

Efforts to find funds from other sources, including an urgent plea to Russia to buy Greek bonds, fell on stony ground.

Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.

Public Vote Followed by U-Turn

In July 2015, the excoriating conditions were put to a popular referendum, an action that threw the EU into a further crisis of identity.

Although the referendum was won resoundingly by those who opposed austerity, the prime minister had little option to ignore the result and agree to a rescue deal with foreign lenders that proved to be more severe.

Final Straw

Tsipras claimed how he began to doubt his finance minister quite early on.

“Varoufakis was the face of the talks, the figure who attracted media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”

After the minister outlined a contingency plan involving establishing a parallel currency as well as distributing coupons to retirees, the leader said he realised that it was the end questioning him: “Is this for real?”

Enduring Rebuke

Within the book, the author concludes how Varoufakis had proved himself to be “unsuitable for a deal that required intricate and sensitive handling.”

He further wrote how his confrontational 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 history has been met with fury along with stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet on the matter.