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In a recently unveiled personal account, named Ithaki, the ex- leader Alexis Tsipras pulls no punches while he reflects on the turbulent period of Greece's financial crisis.

An Unconventional Appointment

In Tsipras's account, he chose that unorthodox academic Yanis Varoufakis to be his finance minister mainly due to the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities as a speaker.

“In reality, he was, actually, more like a celebrity rather than an economist,” recalled the 51-year-old.

Conflicting Priorities

The former leader suggests that Varoufakis possessed his own agenda that included advancing his books and testing out his game theories using Greece rather than genuinely advocating the country's financial survival.

He explained how the negotiations to avoid insolvency became “not only a method to secure a better deal for Greece. They were an experiment, a monumental opportunity to prove the truth of his theories.”

Critical Talks

During volatile discussions, Greece found itself perilously close to exiting the single currency area.

At stake lay both the country's future and the harsh austerity policies demanded in return for financial aid from foreign lenders.

Failed Options

Attempts to find funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.

Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.

Referendum and Reversal

That summer, those excoriating bailout terms were subjected to a public vote, a move that plunged the EU into a further existential crisis.

Even though the vote was carried resoundingly by those against austerity, Tsipras was forced to ignore the result and negotiate a bailout package with foreign lenders that turned out to be even harsher.

Final Straw

Tsipras revealed that he began to doubt Varoufakis relatively soon.

“He was the face of the talks, the figure who attracted publicity, who graced the covers of publications the world over … it seemed he was enjoying his new role.”

When the minister outlined a contingency plan that included establishing a secondary currency as well as issuing vouchers to retirees, Tsipras knew it was the end and asked him: “Can you be serious?”

Enduring Rebuke

In the memoir, Tsipras concludes how Varoufakis demonstrated himself “unfit for a deal that required complex and delicate management.”

He further wrote that his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners who were pushing for a Greek exit from the euro.

The account of events has been met with anger along with shock in some quarters, while Varoufakis has kept a deafening silence on the matter.