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Within his freshly published memoir, called Ithaki, the ex- premier Alexis Tsipras pulls no punches as he reflects on the turbulent period of Greece's economic turmoil.

An Unconventional Appointment

In the ex-PM's recollections, he chose the maverick economist Varoufakis as his finance minister primarily because of his international reputation and Varoufakis's highly compelling abilities when it came to communicator.

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

Clashing Agendas

The former leader claims how his finance chief possessed his own agenda that involved promoting his books as well as testing out his economic models using Greece rather than genuinely advocating its financial survival.

Tsipras wrote that those discussions to avoid insolvency became “not just a method of achieving improved terms for the country. They became a test, a monumental opportunity to demonstrate the validity of his ideas.”

Critical Talks

Amid volatile negotiations, the country came dangerously close to exiting the single currency area.

At stake lay both Greece's destiny but also those severe austerity measures required in return for rescue loans by foreign lenders.

Failed Options

Efforts to find financing elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.

Assisting the indebted country was equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.

Referendum and Reversal

That summer, the punitive bailout terms were put to a popular referendum, an action which plunged the EU into a deeper existential crisis.

Although the referendum was won resoundingly by voters who opposed austerity, the prime minister was forced to reject its outcome and negotiate a rescue deal with creditors that proved to be more severe.

Breaking Point

Tsipras revealed that he started questioning his finance minister relatively soon.

“He was the public image of the talks, the man who drew publicity, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”

After Varoufakis outlined a backup strategy that included establishing a parallel currency and issuing coupons to pensioners, Tsipras said he realised it was game over and asked him: “Is this for real?”

Lasting Rebuke

In the book, Tsipras asserts that his former ally demonstrated himself to be “unfit for a deal that required intricate and delicate management.”

Tsipras further wrote that Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, and helped hardliners who were advocating a Greek exit from the euro.

This retelling of history has been met with anger along with stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet on the matter.