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In a freshly published memoir, named Ithaki, the ex- leader Alexis Tsipras pulls no punches while he examines that chaotic era during Greece's financial crisis.

A Controversial Choice

As per the ex-PM's version, Tsipras appointed the maverick economist Yanis Varoufakis to be his finance minister largely because of his international reputation and his highly compelling abilities as a public orator.

“In reality, he was, truthfully, more of a celebrity rather than an economist,” wrote Tsipras.

Conflicting Agendas

Tsipras claims that his finance chief had his own agenda that involved advancing Varoufakis's publications and testing out his own economic models using the nation rather than truly fighting for the country's economic stability.

He wrote that the discussions to stave off insolvency became “not only a way to secure improved terms for Greece. They were a test, a monumental opportunity to prove the validity of his economic theories.”

High-Stakes Negotiations

Amid tense negotiations, the country came dangerously close to leaving the single currency area.

At stake lay not only Greece's destiny but also the punishing austerity measures demanded in exchange for rescue loans by foreign lenders.

Failed Alternatives

Attempts to find funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.

Assisting Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.

Public Vote and Reversal

That summer, the punitive bailout terms were put to a popular referendum, a move that plunged Europe into deeper crisis of identity.

Although the vote was carried resoundingly by those who opposed austerity, the prime minister had little option but to ignore the result and negotiate a bailout package from foreign lenders which turned out to be even harsher.

Final Straw

Tsipras claimed that he started questioning his finance minister relatively soon.

“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”

After the minister outlined a backup strategy that included establishing a secondary currency and distributing coupons to pensioners, Tsipras knew it was the end questioning Varoufakis: “Is this for real?”

Enduring Rebuke

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

He also claimed that Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were advocating Grexit.

This account of events has been met with anger and stunned disbelief in some quarters, while Varoufakis has maintained a deafening silence on the matter.