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In a newly released memoir, titled Ithaki, the former prime minister Tsipras pulls no punches as he examines the chaotic era of Greece's financial crisis.

A Controversial Appointment

According to the ex-PM's version, he chose the unorthodox economist Varoufakis to be the treasury head primarily due to his worldwide fame and his very persuasive abilities when it came to public orator.

“He was, in reality, more like a personality and less of an economic expert,” recalled Tsipras.

Conflicting Agendas

The former leader claims that Varoufakis possessed his own motives that included promoting his books as well as experimenting with his game theories on Greece instead of truly advocating the country's economic stability.

Tsipras explained how those discussions to stave off bankruptcy were “not only a method of achieving a better deal for Greece. They were an experiment, an historic opportunity to prove the truth of his theories.”

High-Stakes Talks

Amid rollercoaster discussions, the country found itself dangerously close to leaving the single currency area.

At stake was not only Greece's destiny and the punishing cutbacks required in exchange for financial aid by international creditors.

Failed Options

Attempts to secure financing elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.

Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.

Referendum Followed by Reversal

That summer, those punitive conditions were put to a popular referendum, an action which plunged Europe into further crisis of identity.

Even though the vote was won decisively by voters who opposed austerity, the prime minister had little option but to reject its outcome then negotiate a rescue deal with foreign lenders that turned out to be tougher.

Breaking Point

Tsipras revealed how he began to doubt his finance minister quite early on.

“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the front pages of publications globally … it seemed he was enjoying the spotlight.”

When Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing vouchers to retirees, Tsipras knew it was game over and asked him: “Are you serious?”

Enduring Criticism

In the memoir, the author concludes how Varoufakis had proved himself to be “unfit for a deal demanding complex and delicate management.”

He further claimed that his confrontational style left him more and more alone among peers, put Greece at risk, while helped hawks that were pushing for a Greek exit from the euro.

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