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Within his freshly published memoir, titled Ithaki, the former leader Alexis Tsipras does not hold back while he reflects on that chaotic period during Greece's economic turmoil.

An Unconventional Appointment

As per Tsipras's version, he appointed the unorthodox economist Varoufakis as the treasury head largely because of the latter's international reputation and his very persuasive abilities when it came to speaker.

“He was, truthfully, more like a celebrity rather than an economist,” recalled the 51-year-old.

Clashing Agendas

Tsipras alleges that his finance chief possessed his own motives that involved advancing his books and testing out his game theories on the nation instead of truly advocating the country's economic stability.

He wrote how the discussions to prevent insolvency became “not only a way of achieving a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's economic theories.”

Critical Talks

Amid rollercoaster negotiations, Greece came perilously close to leaving the single currency area.

On the line was both the country's destiny but also those severe austerity measures required in exchange for rescue loans by foreign lenders.

Unsuccessful Alternatives

Attempts to secure funds from other sources, such as a desperate appeal to Russia to buy Greek government bonds, were rejected.

Helping Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.

Referendum Followed by Reversal

In July 2015, the punitive conditions were subjected to a public vote, an action which threw the EU into further existential crisis.

Even though the vote was carried decisively by voters against austerity, Tsipras had little option but to reject its outcome then agree to a rescue deal with foreign lenders which 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 figure who drew publicity, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”

After Varoufakis outlined a backup strategy that included establishing a parallel currency as well as distributing vouchers to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Are you serious?”

Lasting Criticism

In the book, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for an agreement that required complex and delicate management.”

Tsipras also wrote how Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were advocating Grexit.

The account of events has provoked anger and stunned disbelief among certain groups, whereas the former minister has kept a deafening silence on the matter.