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In a freshly published personal account, named Ithaki, the former premier Tsipras pulls no punches while he revisits that chaotic era of Greece's debt drama.

An Unconventional Appointment

In Tsipras's version, Tsipras selected that unorthodox economist Varoufakis as his treasury head primarily because of his worldwide fame along with his “extremely attractive” abilities as a communicator.

“He was, actually, more of a personality rather than an economic expert,” recalled Tsipras.

Clashing Priorities

Tsipras suggests how his finance chief possessed a personal motives which included advancing Varoufakis's publications as well as experimenting with his own economic models using the nation instead of genuinely fighting for the country's financial survival.

Tsipras noted that the talks to stave off bankruptcy were “not just a method to secure a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”

High-Stakes Negotiations

During tense discussions, the country came dangerously on the brink of exiting the single currency area.

At stake was not only Greece's destiny and those severe cutbacks demanded in exchange for financial aid by foreign lenders.

Unsuccessful Options

Efforts to secure funds from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, went unanswered.

Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.

Referendum and Reversal

In July 2015, those punitive bailout terms were put to a popular referendum, a move that threw the EU into deeper crisis of identity.

Although the referendum was won resoundingly by voters who opposed the cuts, the prime minister was forced to reject its outcome and negotiate a bailout package with creditors which proved to be tougher.

Breaking Point

The ex-PM claimed that he began to doubt his finance minister quite early on.

“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”

After the minister outlined a contingency plan involving creating a parallel currency as well as issuing vouchers to retirees, the leader said he realised it was the end and asked him: “Is this for real?”

Lasting Rebuke

Within the memoir, Tsipras concludes that Varoufakis had proved himself “unfit for a deal demanding complex and delicate handling.”

Tsipras also claimed that his confrontational approach left him more and more alone among peers, put Greece at risk, while assisted hardliners that were pushing for Grexit.

The retelling of history has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has maintained a deafening silence on the matter.