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Within his newly released memoir, called Ithaki, the ex- leader Alexis Tsipras spares no criticism while he revisits that turbulent period of Greece's debt drama.

An Unconventional Appointment

According to the ex-PM's version, he selected that maverick academic Varoufakis as his treasury head largely due to his worldwide fame and his very persuasive abilities as a communicator.

“He was, in reality, more of a star rather than an economist,” recalled the 51-year-old.

Clashing Priorities

Tsipras alleges how his finance chief had his own agenda which involved advancing Varoufakis's publications and experimenting with his own economic models on the nation instead of truly advocating its economic stability.

Tsipras noted how the talks to prevent insolvency were “not just a method of achieving improved terms for Greece. They became an experiment, an historic opportunity to prove the validity of his economic theories.”

Critical Talks

During volatile negotiations, the country found itself perilously close to leaving the single currency area.

On the line lay both Greece's destiny but also those harsh cutbacks required in return for rescue loans by international creditors.

Unsuccessful Alternatives

Attempts to secure financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.

Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.

Public Vote and U-Turn

In July 2015, the excoriating bailout terms were put to a popular referendum, an action that plunged Europe into further existential crisis.

Even though the referendum was won resoundingly by voters who opposed austerity, the prime minister had little option to reject its outcome and agree to a rescue deal with foreign lenders which turned out to be even harsher.

Final Straw

Tsipras revealed that he started questioning Varoufakis relatively soon.

“Varoufakis was the face of the talks, the figure who drew publicity, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”

When the minister proposed a contingency plan that included establishing a parallel currency as well as issuing vouchers to pensioners, the leader knew it was game over questioning Varoufakis: “Can you be serious?”

Enduring Rebuke

In the book, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and delicate management.”

He further wrote how his aggressive approach left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were pushing for a Greek exit from the euro.

This account of events has been met with fury and stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence on the matter.