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In a newly released personal account, named Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he examines that turbulent period during Greece's financial crisis.

A Controversial Appointment

According to the ex-PM's account, Tsipras selected that unorthodox economist Varoufakis to be the treasury head primarily due to the latter's global profile and his highly compelling abilities as a public orator.

“He was, actually, more like a star rather than an economist,” wrote the 51-year-old.

Conflicting Agendas

Tsipras suggests how Varoufakis possessed a personal agenda which involved promoting Varoufakis's books and testing out his own theories on Greece rather than truly fighting for the country's financial survival.

Tsipras wrote how the negotiations to avoid insolvency became “not only a way of achieving a better deal for the country. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”

High-Stakes Negotiations

Amid rollercoaster discussions, Greece found itself dangerously on the brink of leaving the eurozone.

At stake lay both the country's destiny and those punishing austerity policies required in exchange for rescue loans from international creditors.

Unsuccessful Alternatives

Efforts to find funds from other sources, including a desperate plea to the Kremlin to buy Greek bonds, were rejected.

Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.

Referendum and U-Turn

In July 2015, the punitive conditions were put to a public vote, a move that threw Europe into a deeper crisis of identity.

Although the vote was won decisively by those who opposed the cuts, Tsipras had little option to ignore the result then agree to a bailout package from foreign lenders which turned out to be even harsher.

Final Straw

Tsipras revealed how he started questioning Varoufakis relatively soon.

“He was the face of negotiation, the figure who attracted media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”

When the minister outlined a contingency plan that included establishing a secondary currency as well as distributing coupons to retirees, the leader said he realised that it was the end and asked Varoufakis: “Are you serious?”

Lasting Criticism

Within the book, the author asserts how his former ally demonstrated himself “unfit for an agreement demanding intricate and delicate management.”

He also claimed that Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, and helped hawks who were advocating a Greek exit from the euro.

The retelling of events has provoked fury and shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.