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In a freshly published memoir, called Ithaki, the ex- premier Alexis Tsipras does not hold back as he revisits that chaotic era during Greece's debt drama.

A Controversial Appointment

In the ex-PM's account, Tsipras chose that maverick academic Yanis Varoufakis as the treasury head largely because of his global profile and his very persuasive skills as a speaker.

“He was, in reality, more like a celebrity and less of an economist,” recalled the 51-year-old.

Conflicting Agendas

The former leader suggests that Varoufakis had his own motives which included advancing his publications and testing out his own game theories using the nation instead of truly advocating its financial survival.

He explained how the discussions to stave off insolvency became “not just a way to secure improved terms for the country. They were a test, a monumental chance to demonstrate the truth of his theories.”

Critical Negotiations

During rollercoaster negotiations, Greece came perilously close to leaving the single currency area.

On the line lay both the country's destiny and those harsh austerity policies demanded in return for rescue loans from international creditors.

Failed Options

Attempts to find financing from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, were rejected.

Assisting the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.

Referendum and U-Turn

In July 2015, those punitive bailout terms were put to a public vote, an action which threw the EU into a further crisis of identity.

Even though the referendum was won decisively by those who opposed the cuts, Tsipras had little option but to ignore the result and agree to a rescue deal with creditors that turned out to be more severe.

Final Straw

Tsipras revealed that he started questioning Varoufakis relatively soon.

“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the covers of publications globally … it seemed he relished his new role.”

When Varoufakis proposed a backup strategy involving establishing a secondary currency and distributing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”

Lasting Rebuke

In the memoir, the author concludes how Varoufakis demonstrated himself “unfit for a deal that required intricate and sensitive management.”

He also wrote how his aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.

The account of history has been met with fury and shock in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.