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Within his recently unveiled personal account, titled Ithaki, the former prime minister Tsipras does not hold back as he examines the turbulent period of Greece's financial crisis.

A Controversial Choice

As per the ex-PM's recollections, he appointed the unorthodox academic Yanis Varoufakis to be his treasury head primarily because of the latter's international reputation and Varoufakis's “extremely attractive” skills when it came to public orator.

“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” recalled Tsipras.

Clashing Priorities

Tsipras suggests how his finance chief had his own motives which included promoting Varoufakis's books as well as testing out his own economic models on the nation instead of genuinely advocating its financial survival.

He noted that those negotiations to prevent insolvency became “not only a way to secure a better deal for Greece. They became an experiment, a monumental opportunity to prove the truth of his theories.”

High-Stakes Talks

Amid volatile discussions, Greece came dangerously close to exiting the single currency area.

At stake was not only Greece's destiny and the punishing austerity measures demanded in return for bailout funds from international creditors.

Failed Alternatives

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

Assisting the indebted country was tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.

Public Vote and Reversal

That summer, those punitive bailout terms were put to a public vote, an action that threw Europe into a deeper existential crisis.

Although the vote was won decisively by those against austerity, Tsipras was forced to ignore the result then negotiate a rescue deal with creditors that turned out to be even harsher.

Breaking Point

Tsipras revealed that he started questioning Varoufakis relatively soon.

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

When the minister outlined a contingency plan involving creating a secondary currency as well as distributing coupons to retirees, the leader said he realised that it was the end and asked him: “Can you be serious?”

Enduring Rebuke

Within the memoir, the author concludes that his former ally had proved himself to be “unsuitable for a deal that required complex and delicate management.”

He also wrote how Varoufakis's confrontational approach made him more and more alone among peers, put Greece at risk, while assisted hawks that were advocating Grexit.

The retelling of history has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.