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In a newly released memoir, named Ithaki, the former leader Alexis Tsipras does not hold back while he reflects on that chaotic period of Greece's economic turmoil.

A Controversial Choice

According to Tsipras's account, he appointed the maverick academic Yanis Varoufakis to be the finance minister primarily because of his global profile and his “extremely attractive” abilities as a communicator.

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

Clashing Agendas

Tsipras suggests how Varoufakis had his own motives which involved promoting his publications and testing out his own theories using the nation rather than truly advocating the country's economic stability.

Tsipras wrote how the talks to prevent bankruptcy were “not just a method of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the truth of Varoufakis's economic theories.”

Critical Negotiations

Amid volatile discussions, Greece came dangerously close to leaving the eurozone.

At stake lay not only Greece's destiny and the punishing austerity policies required in return for financial aid by foreign lenders.

Unsuccessful Options

Efforts to secure funds elsewhere, such as a desperate appeal to Russia to buy Greek bonds, fell on stony ground.

Helping Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras in Moscow.

Public Vote and Reversal

In July 2015, those harsh conditions were subjected to a public vote, an action which plunged the EU into a further existential crisis.

Even though the referendum was carried resoundingly by voters who opposed the cuts, the prime minister was forced to ignore the result then negotiate a rescue deal with foreign lenders which turned out to be even harsher.

Final Straw

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

“He was the face of the talks, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”

After the minister proposed a backup strategy that included creating a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Can you be serious?”

Lasting Rebuke

In the book, the author concludes how Varoufakis had proved himself “unsuitable for an agreement that required complex and delicate handling.”

Tsipras also claimed how his aggressive style left him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were pushing for Grexit.

This account of history has been met with fury and shock among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.