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In a recently unveiled memoir, called Ithaki, the former leader Tsipras spares no criticism as he reflects on that chaotic era during Greece's debt drama.

A Controversial Choice

As per Tsipras's version, Tsipras selected that unorthodox economist Varoufakis as the finance minister largely due to his international reputation and his very persuasive skills as a speaker.

“He was, truthfully, more of a personality and less of an economist,” recalled the 51-year-old.

Clashing Agendas

The former leader claims how his finance chief had his own agenda that involved advancing Varoufakis's books and experimenting with his own economic models on Greece instead of genuinely advocating its financial survival.

He noted how the discussions to stave off bankruptcy became “not just a method to secure improved terms for Greece. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's theories.”

High-Stakes Talks

During tense discussions, Greece found itself perilously on the brink of exiting the single currency area.

On the line lay not only Greece's destiny but also those punishing austerity policies demanded in return for rescue loans from international creditors.

Failed Alternatives

Efforts to secure funds from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, were rejected.

Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.

Referendum Followed by Reversal

In July 2015, the punitive bailout terms were put to a popular referendum, an action which threw Europe into deeper existential crisis.

Even though the referendum was carried resoundingly by those who opposed austerity, the prime minister had little option but to reject its outcome then negotiate a bailout package with foreign lenders that proved to be tougher.

Final Straw

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

“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.”

When the minister proposed a backup strategy that included creating a secondary currency and issuing coupons to retirees, Tsipras said he realised it was game over questioning him: “Are you serious?”

Enduring Rebuke

Within the memoir, Tsipras concludes how Varoufakis had proved himself “unsuitable for a deal demanding complex and sensitive handling.”

Tsipras also wrote that Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.

This account of events has been met with fury and stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet on the matter.