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Within his newly released memoir, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he reflects on the turbulent era of Greece's financial crisis.

An Unconventional Choice

According to Tsipras's version, Tsipras chose the unorthodox academic Yanis Varoufakis to be the treasury head primarily due to the latter's global profile and his “extremely attractive” skills as a communicator.

“In reality, he was, actually, more of a star and less of an economist,” stated Tsipras.

Clashing Priorities

Tsipras suggests how his finance chief had a personal motives which included promoting Varoufakis's books and experimenting with his game theories on the nation rather than genuinely advocating its economic stability.

He noted that the negotiations to stave off bankruptcy were “not only a method of achieving a better deal for Greece. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's theories.”

High-Stakes Negotiations

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

At stake lay both Greece's destiny and those severe austerity measures demanded in exchange for financial aid by international creditors.

Unsuccessful Options

Attempts to find funds elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.

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

Public Vote Followed by U-Turn

In July 2015, those excoriating bailout terms were put to a public vote, a move which plunged the EU into further existential crisis.

Although the vote was carried decisively by those who opposed austerity, Tsipras had little option but to ignore the result then agree to a rescue deal with creditors that turned out to be more severe.

Final Straw

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

“Varoufakis was the face of negotiation, the man who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”

After the minister outlined a contingency plan that included establishing a parallel currency as well as distributing vouchers to retirees, Tsipras knew that it was the end questioning Varoufakis: “Is this for real?”

Lasting Rebuke

Within the book, Tsipras concludes that his former ally demonstrated himself “unsuitable for an agreement demanding intricate and sensitive management.”

Tsipras also wrote that Varoufakis's confrontational approach left him more and more alone among peers, put Greece at risk, while helped hawks that were pushing for Grexit.

This retelling of events has been met with anger and stunned disbelief among certain groups, while Varoufakis has kept a deafening silence on the matter.