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In a newly released personal account, called Ithaki, the ex- prime minister Tsipras does not hold back while he examines that turbulent period of Greece's economic turmoil.

A Controversial Appointment

In Tsipras's version, Tsipras appointed the maverick academic Yanis Varoufakis as the treasury head largely because of his worldwide fame along with Varoufakis's very persuasive abilities when it came to public orator.

“In reality, he was, actually, more of a celebrity and less of an economist,” wrote the 51-year-old.

Clashing Priorities

The former leader claims how Varoufakis had his own agenda that involved promoting his books as well as testing out his economic models on Greece rather than truly advocating the country's economic stability.

Tsipras wrote that those talks to stave off bankruptcy were “not just a method to secure a better deal for the country. They were a test, a monumental chance to prove the truth of his ideas.”

High-Stakes Talks

Amid tense discussions, the country came dangerously close to leaving the single currency area.

On the line lay not only Greece's destiny but also the punishing cutbacks required in return for rescue loans by international creditors.

Unsuccessful Alternatives

Attempts to secure funds from other sources, including an urgent appeal to Russia to buy Greek bonds, were rejected.

Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.

Referendum and U-Turn

In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action which threw Europe into a deeper existential crisis.

Even though the vote was won resoundingly by those who opposed the cuts, the prime minister had little option but to ignore the result and agree to a rescue deal with foreign lenders which turned out to be more severe.

Breaking Point

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

“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines globally … it seemed he relished his new role.”

After Varoufakis proposed a backup strategy that included establishing a secondary currency and distributing vouchers to retirees, Tsipras said he realised it was game over questioning him: “Can you be serious?”

Enduring Rebuke

In the book, Tsipras concludes that Varoufakis had proved himself to be “unfit for a deal that required intricate and sensitive handling.”

He further wrote how Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.

The retelling of events has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.