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In a recently unveiled personal account, titled Ithaki, the former prime minister Alexis Tsipras pulls no punches as he examines that turbulent period of Greece's debt drama.

A Controversial Appointment

According to the ex-PM's version, he selected the unorthodox economist Yanis Varoufakis to be his finance minister mainly because of his global profile and Varoufakis's very persuasive abilities as a public orator.

“He was, actually, more like a personality rather than an economist,” recalled Tsipras.

Conflicting Priorities

The former leader alleges how Varoufakis possessed a personal motives that included promoting Varoufakis's books as well as testing out his theories on the nation instead of truly fighting for the country's economic stability.

He noted that those negotiations to stave off bankruptcy became “not only a way to secure a better deal for the country. They were an experiment, an historic chance to prove the validity of his theories.”

Critical Negotiations

During tense discussions, the country found itself dangerously on the brink of exiting the eurozone.

At stake lay both Greece's future but also the harsh austerity policies demanded in exchange for bailout funds by international creditors.

Unsuccessful Alternatives

Efforts to find funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.

Helping Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.

Referendum and Reversal

In July 2015, the excoriating conditions were subjected to a public vote, an action that plunged Europe into a further existential crisis.

Even though the vote was won decisively by those against austerity, Tsipras was forced but to reject its outcome and negotiate a bailout package from creditors which proved to be tougher.

Final Straw

Tsipras revealed that he began to doubt his finance minister quite early on.

“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”

When the minister outlined a backup strategy involving establishing a parallel currency and issuing coupons to retirees, Tsipras said he realised it was game over questioning him: “Can you be serious?”

Lasting Rebuke

In the memoir, the author asserts how his former ally had proved himself to be “unsuitable for a deal demanding complex and sensitive management.”

He also wrote that Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, and helped hawks that were advocating Grexit.

The account of history has provoked anger along with shock in some quarters, whereas Varoufakis has maintained a deafening silence regarding these claims.