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Within his newly released personal account, called Ithaki, the former prime minister Alexis Tsipras pulls no punches as he revisits that chaotic era during Greece's economic turmoil.

An Unconventional Appointment

According to Tsipras's recollections, he selected the unorthodox economist Yanis Varoufakis as his treasury head largely due to the latter's global profile along with Varoufakis's “extremely attractive” skills as a communicator.

“He was, truthfully, more of a personality rather than an economist,” wrote Tsipras.

Clashing Agendas

The former leader suggests that Varoufakis had his own agenda that included advancing his publications as well as experimenting with his own game theories using Greece instead of truly advocating its financial survival.

Tsipras explained how those talks to avoid insolvency were “not only a way to secure improved terms for Greece. They were a test, an historic chance to prove the validity of his theories.”

Critical Negotiations

During rollercoaster negotiations, Greece came perilously close to exiting the eurozone.

At stake lay not only Greece's destiny and those harsh austerity policies required in exchange for rescue loans by foreign lenders.

Unsuccessful Alternatives

Attempts to find funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, were rejected.

Helping Greece was equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.

Public Vote Followed by Reversal

That summer, the excoriating bailout terms were subjected to a public vote, an action which threw Europe into a further existential crisis.

Even though the referendum was won resoundingly by voters against the cuts, the prime minister had little option to ignore the result then negotiate a bailout package with foreign lenders which turned out to be tougher.

Breaking Point

Tsipras revealed how he began to doubt Varoufakis quite early on.

“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”

After the minister outlined a backup strategy involving creating a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Are you serious?”

Enduring Criticism

Within the book, the author asserts that his former ally demonstrated himself to be “unfit for an agreement demanding complex and sensitive management.”

He also wrote how Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were pushing for a Greek exit from the euro.

This account of history has provoked fury and shock among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.