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Within his recently unveiled personal account, called Ithaki, the former premier Alexis Tsipras does not hold back as he examines that chaotic era during Greece's financial crisis.

An Unconventional Choice

In Tsipras's version, he chose that maverick economist Varoufakis to be the treasury head primarily because of his international reputation and Varoufakis's “extremely attractive” skills when it came to communicator.

“In reality, he was, in reality, more of a personality and less of an economic expert,” recalled the 51-year-old.

Conflicting Agendas

Tsipras claims that his finance chief possessed his own agenda which involved advancing his books and testing out his economic models using Greece rather than genuinely fighting for its financial survival.

Tsipras noted that those talks to avoid bankruptcy were “not only a method of achieving a better deal for Greece. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”

Critical Talks

During volatile discussions, Greece found itself perilously on the brink of leaving the single currency area.

At stake was not only the country's destiny but also the harsh austerity measures demanded in exchange for rescue loans by foreign lenders.

Unsuccessful Alternatives

Attempts to find financing from other sources, including an urgent plea to Russia to purchase Greek government bonds, went unanswered.

Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.

Referendum Followed by Reversal

That summer, the excoriating conditions were subjected to a public vote, an action that plunged the EU into a further crisis of identity.

Even though the vote was won resoundingly by voters who opposed austerity, the prime minister had little option but to ignore the result and agree to a bailout package with creditors that turned out to be tougher.

Final Straw

The ex-PM revealed that he began to doubt Varoufakis quite early on.

“He was the face of the talks, the man who attracted publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”

When Varoufakis outlined a contingency plan involving establishing a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised that it was the end and asked him: “Are you serious?”

Lasting Rebuke

In the memoir, Tsipras asserts that his former ally had proved himself “unsuitable for a deal that required complex and delicate handling.”

Tsipras further wrote that Varoufakis's aggressive style made him more and more alone among peers, endangered the country, and helped hardliners who were advocating a Greek exit from the euro.

This account of events has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.