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In a newly released personal account, titled Ithaki, the former leader Tsipras pulls no punches while he revisits that turbulent period of Greece's economic turmoil.

An Unconventional Appointment

As per Tsipras's version, he selected the unorthodox academic Yanis Varoufakis as his treasury head mainly because of the latter's worldwide fame and Varoufakis's “extremely attractive” abilities when it came to public orator.

“He was, truthfully, more of a star and less of an economic expert,” wrote the 51-year-old.

Conflicting Priorities

The former leader suggests that his finance chief possessed his own motives which involved promoting Varoufakis's books and testing out his own theories using the nation rather than truly advocating the country's economic stability.

He wrote that the talks to avoid insolvency were “not just a way to secure improved terms for the country. They were a test, a monumental opportunity to prove the truth of his theories.”

High-Stakes Negotiations

During volatile negotiations, the country came dangerously close to exiting the single currency area.

At stake was not only Greece's destiny but also the severe austerity policies demanded in exchange for rescue loans by foreign lenders.

Unsuccessful Alternatives

Efforts to secure funds from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, were rejected.

Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.

Referendum Followed by Reversal

In July 2015, the excoriating bailout terms were put to a public vote, an action that plunged the EU into further crisis of identity.

Although the vote was carried resoundingly by those who opposed austerity, the prime minister had little option to reject its outcome then agree to a bailout package from creditors which proved to be tougher.

Final Straw

Tsipras revealed that he began to doubt Varoufakis relatively soon.

“He was the public image of the talks, the man who attracted publicity, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”

After Varoufakis proposed a contingency plan involving establishing a parallel currency as well as issuing vouchers to retirees, Tsipras knew that it was the end and asked Varoufakis: “Can you be serious?”

Lasting Criticism

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

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

This retelling of events has been met with fury and stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.