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In a freshly published memoir, named Ithaki, the ex- leader Alexis Tsipras does not hold back while he reflects on that chaotic era during Greece's economic turmoil.

A Controversial Choice

In the ex-PM's recollections, Tsipras chose that maverick academic Yanis Varoufakis as his finance minister largely because of his global profile and Varoufakis's highly compelling skills as a communicator.

“In reality, he was, truthfully, more of a personality rather than an economic expert,” recalled Tsipras.

Clashing Agendas

Tsipras alleges how his finance chief possessed a personal agenda that involved promoting Varoufakis's publications and testing out his theories on the nation instead of genuinely advocating its financial survival.

Tsipras explained that those discussions to avoid bankruptcy became “not only a method of achieving improved terms for the country. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's theories.”

Critical Negotiations

During volatile discussions, the country came perilously close to exiting the single currency area.

At stake was both Greece's future but also the severe austerity policies demanded in exchange for financial aid by foreign lenders.

Failed Alternatives

Efforts to secure funds from other sources, such as a desperate plea to Russia to purchase Greek bonds, fell on stony ground.

Assisting the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.

Referendum and Reversal

In July 2015, those harsh bailout terms were subjected to a popular referendum, an action which threw Europe into further crisis of identity.

Although the referendum was won resoundingly by those who opposed the cuts, Tsipras had little option but to ignore the result then agree to a bailout package with foreign lenders that turned out to be more severe.

Breaking Point

Tsipras claimed how he began to doubt Varoufakis quite early on.

“He was the face of the talks, the man who attracted media attention, who graced the covers of magazines globally … it seemed he relished his new role.”

After Varoufakis outlined a contingency plan that included establishing a secondary currency as well as distributing coupons to pensioners, the leader said he realised that it was the end questioning him: “Can you be serious?”

Lasting Rebuke

In the book, Tsipras asserts that his former ally demonstrated himself to be “unfit for an agreement that required intricate and sensitive handling.”

He also wrote how Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.

This account of history has provoked anger and shock in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.