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Within his newly released memoir, named Ithaki, the former leader Tsipras pulls no punches while he examines that turbulent period during Greece's financial crisis.

An Unconventional Appointment

According to Tsipras's account, he selected the unorthodox economist Varoufakis as his finance minister largely due to the latter's international reputation and his highly compelling abilities as a speaker.

“In reality, he was, truthfully, more like a star rather than an economic expert,” recalled the 51-year-old.

Conflicting Agendas

Tsipras alleges that his finance chief possessed his own motives that included advancing his publications and experimenting with his economic models using Greece instead of genuinely advocating the country's economic stability.

He wrote how the talks to avoid bankruptcy were “not only a way of achieving improved terms for the country. They were an experiment, a monumental chance to demonstrate the truth of his theories.”

High-Stakes Negotiations

During volatile negotiations, the country found itself dangerously on the brink of exiting the eurozone.

On the line lay both the country's future but also those harsh cutbacks demanded in return for bailout funds from foreign lenders.

Unsuccessful Options

Attempts to secure financing from other sources, including a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.

Helping Greece would be equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.

Public Vote Followed by Reversal

That summer, those excoriating conditions were subjected to a popular referendum, an action which plunged the EU into further existential crisis.

Although the vote was won decisively by voters who opposed austerity, Tsipras had little option to ignore the result and agree to a rescue deal from foreign lenders which proved to be more severe.

Final Straw

Tsipras claimed how he began to doubt his finance minister relatively soon.

“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”

When the minister outlined a contingency plan that included creating a parallel currency as well as issuing vouchers to pensioners, Tsipras knew it was game over questioning Varoufakis: “Is this for real?”

Enduring Criticism

In the memoir, Tsipras asserts that his former ally demonstrated himself “unsuitable for an agreement demanding complex and delicate management.”

Tsipras further claimed that his aggressive style made him increasingly isolated among peers, endangered the country, while assisted hardliners who were pushing for Grexit.

The retelling of events has provoked anger and shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.