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In a freshly published memoir, titled Ithaki, the former leader Tsipras pulls no punches as he reflects on that turbulent era during Greece's financial crisis.

An Unconventional Choice

In Tsipras's recollections, he appointed the maverick academic Yanis Varoufakis as the finance minister mainly due to his international reputation along with his very persuasive abilities when it came to speaker.

“In reality, he was, actually, more of a celebrity rather than an economist,” wrote Tsipras.

Conflicting Priorities

The former leader suggests that Varoufakis had a personal motives that included promoting Varoufakis's books and experimenting with his own game theories using Greece rather than genuinely advocating the country's financial survival.

He wrote how those negotiations to prevent insolvency became “not just a way of achieving a better deal for the country. They were an experiment, a monumental opportunity to prove the validity of his ideas.”

Critical Talks

During tense negotiations, the country came perilously close to leaving the eurozone.

On the line was both Greece's destiny and those harsh austerity policies required in exchange for bailout funds from international creditors.

Failed Options

Attempts to find financing elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.

Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.

Referendum Followed by U-Turn

That summer, those excoriating conditions were put to a popular referendum, a move which threw the EU into a deeper crisis of identity.

Even though the vote was won decisively by those who opposed austerity, Tsipras had little option but to reject its outcome and agree to a rescue deal from creditors that proved to be even harsher.

Breaking Point

Tsipras claimed that he started questioning his finance minister quite early on.

“He was the face of negotiation, the figure who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”

After Varoufakis outlined a contingency plan that included creating a secondary currency as well as distributing vouchers to retirees, the leader said he realised it was game over questioning him: “Can you be serious?”

Enduring Rebuke

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

He further wrote how Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were pushing for Grexit.

This retelling of history has provoked anger and shock in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.