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In a newly released memoir, titled Ithaki, the former premier Alexis Tsipras pulls no punches as he revisits the chaotic period of Greece's financial crisis.

A Controversial Appointment

According to Tsipras's recollections, he selected that maverick economist Varoufakis as the finance minister primarily because of his worldwide fame and his highly compelling abilities when it came to public orator.

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

Conflicting Priorities

Tsipras suggests that Varoufakis possessed a personal agenda that involved promoting his publications and experimenting with his own theories on Greece rather than truly fighting for the country's financial survival.

Tsipras noted that those discussions to stave off bankruptcy became “not only a way of achieving improved terms for Greece. They became a test, a monumental chance to prove the truth of Varoufakis's economic theories.”

High-Stakes Talks

Amid volatile negotiations, the country came dangerously on the brink of exiting the single currency area.

On the line lay both Greece's future and those punishing austerity policies demanded in return for rescue loans from international creditors.

Failed Options

Efforts to find funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.

Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.

Referendum and U-Turn

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

Even though the vote was carried decisively by voters who opposed the cuts, Tsipras had little option but to reject its outcome and agree to a bailout package from foreign lenders which turned out to be tougher.

Final Straw

The ex-PM revealed that he started questioning his finance minister relatively soon.

“He was the public image of negotiation, the figure who drew media attention, who appeared on the covers of publications globally … he gave the impression he was enjoying his new role.”

After the minister proposed a backup strategy involving establishing a parallel currency and distributing coupons to retirees, the leader knew that it was game over and asked him: “Is this for real?”

Enduring Criticism

In the memoir, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for a deal demanding complex and sensitive management.”

He also claimed how Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, and helped hardliners that were advocating a Greek exit from the euro.

The retelling of history has provoked fury along with stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet on the matter.