Ex-PM Alexis Tsipras Asserts Varoufakis Was ‘Unsuitable’ as Greek Finance Minister Amid Financial Meltdown

Within his freshly published autobiography, named Ithaki, the former prime minister Alexis Tsipras does not hold back while he examines that chaotic period during Greece's financial crisis.

An Unconventional Appointment

According to the ex-PM's account, Tsipras appointed the unorthodox academic Yanis Varoufakis as his treasury head largely due to the latter's international reputation and Varoufakis's “extremely attractive” skills when it came to communicator.

“He was, truthfully, more of a star rather than an economic expert,” stated Tsipras.

Clashing Agendas

The former leader suggests that Varoufakis had a personal motives that involved promoting Varoufakis's publications and experimenting with his own game theories on the nation rather than genuinely fighting for the country's financial survival.

He noted how the negotiations to prevent bankruptcy became “not just a method of achieving a better deal for Greece. They were a test, a monumental chance to prove the validity of Varoufakis's ideas.”

High-Stakes Negotiations

Amid volatile negotiations, Greece came perilously close to leaving the single currency area.

At stake lay both the country's future and the harsh austerity measures required in exchange for financial aid by international creditors.

Unsuccessful Alternatives

Attempts to secure funds elsewhere, including a desperate plea to Russia to buy Greek bonds, were rejected.

Helping Greece would be tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.

Referendum and U-Turn

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

Even though the vote was won decisively by voters against the cuts, Tsipras was forced but to ignore the result then negotiate a rescue deal from creditors that proved to be more severe.

Breaking Point

The ex-PM claimed that he started questioning his finance minister relatively soon.

“He was the face of negotiation, the figure who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”

When Varoufakis outlined a contingency plan involving establishing a parallel currency as well as distributing vouchers to retirees, the leader said he realised that it was game over questioning Varoufakis: “Can you be serious?”

Enduring Rebuke

Within the memoir, the author asserts how Varoufakis demonstrated himself “unfit for a deal demanding intricate and sensitive handling.”

He further wrote how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.

This account of events has provoked anger and shock in some quarters, whereas Varoufakis has so far kept a conspicuous quiet on the matter.