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In a newly released personal account, titled Ithaki, the former leader Alexis Tsipras pulls no punches while he examines that chaotic period during Greece's economic turmoil.

An Unconventional Appointment

In the ex-PM's account, he appointed that maverick academic Varoufakis as the treasury head mainly because of the latter's worldwide fame and Varoufakis's very persuasive abilities as a communicator.

“He was, in reality, more of a personality and less of an economist,” stated the 51-year-old.

Clashing Priorities

The former leader claims how his finance chief had his own agenda which involved promoting his publications and testing out his own game theories on Greece rather than truly fighting for the country's financial survival.

He explained that the talks to avoid bankruptcy were “not just a way of achieving improved terms for the country. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's theories.”

High-Stakes Negotiations

Amid rollercoaster negotiations, the country found itself perilously close to exiting the eurozone.

At stake lay not only Greece's future but also the punishing austerity measures demanded in return for financial aid from foreign lenders.

Unsuccessful Options

Attempts to find funds elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, went unanswered.

Helping Greece would be tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.

Referendum Followed by Reversal

That summer, those harsh bailout terms were put to a public vote, an action that threw the EU into a further crisis of identity.

Although the referendum was carried decisively by voters against the cuts, Tsipras had little option to reject its outcome then agree to a bailout package from creditors which turned out to be tougher.

Breaking Point

The ex-PM revealed that he began to doubt Varoufakis relatively soon.

“Varoufakis was the face of negotiation, the man who attracted media attention, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”

When the minister proposed a backup strategy that included establishing a secondary currency and issuing coupons to pensioners, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”

Lasting Rebuke

Within the memoir, Tsipras asserts that his former ally had proved himself to be “unsuitable for a deal that required intricate and delicate handling.”

Tsipras also claimed how his confrontational style left him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were advocating a Greek exit from the euro.

This account of history has been met with fury along with shock in some quarters, while Varoufakis has kept a deafening silence regarding these claims.