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Within his newly released autobiography, titled Ithaki, the former premier Tsipras does not hold back while he reflects on that turbulent era of Greece's debt drama.

A Controversial Appointment

According to Tsipras's account, he chose the unorthodox academic Yanis Varoufakis as the treasury head mainly because of the latter's international reputation along with Varoufakis's very persuasive abilities when it came to speaker.

“In reality, he was, in reality, more like a star and less of an economist,” stated Tsipras.

Clashing Priorities

The former leader claims that his finance chief possessed a personal motives that included promoting Varoufakis's publications and testing out his own game theories using Greece rather than truly fighting for the country's financial survival.

He noted that the talks to stave off insolvency were “not only a way to secure improved terms for the country. They became a test, an historic opportunity to prove the validity of Varoufakis's economic theories.”

High-Stakes Negotiations

During tense negotiations, Greece found itself perilously on the brink of exiting the single currency area.

At stake was both Greece's future and those punishing cutbacks required in exchange for financial aid by international creditors.

Unsuccessful Options

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

Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.

Public Vote and U-Turn

In July 2015, those excoriating conditions were subjected to a popular referendum, a move that threw Europe into a further crisis of identity.

Although the referendum was carried decisively by those against austerity, the prime minister was forced but to ignore the result and agree to a bailout package from foreign lenders which turned out to be even harsher.

Final Straw

Tsipras revealed how he began to doubt his finance minister relatively soon.

“He was the public image of negotiation, the figure who attracted publicity, who graced the covers of publications the world over … he gave the impression he relished his new role.”

When the minister outlined a backup strategy involving creating a parallel currency and distributing vouchers to pensioners, the leader said he realised it was game over and asked him: “Can you be serious?”

Lasting Criticism

Within the book, Tsipras asserts how Varoufakis had proved himself “unfit for a deal demanding intricate and sensitive handling.”

He further claimed how Varoufakis's aggressive approach left him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for Grexit.

This account of events has been met with fury along with shock in some quarters, while Varoufakis has kept a conspicuous quiet regarding these claims.