Former Prime Minister Alexis Tsipras Claims Varoufakis Was ‘Unsuitable’ for the role of Greek Treasury Chief During Financial Meltdown

Within his freshly published autobiography, called Ithaki, the former prime minister Tsipras does not hold back while he reflects on the chaotic period of Greece's financial crisis.

A Controversial Choice

As per the ex-PM's account, Tsipras chose the unorthodox economist Yanis Varoufakis to be the finance minister primarily due to his global profile along with Varoufakis's highly compelling skills when it came to speaker.

“He was, in reality, more of a celebrity and less of an economist,” recalled Tsipras.

Clashing Agendas

The former leader suggests that his finance chief possessed a personal agenda which included advancing his books as well as testing out his own game theories on Greece rather than truly advocating the country's economic stability.

He noted how those discussions to avoid bankruptcy became “not only a method to secure a better deal for Greece. They were a test, an historic chance to demonstrate the truth of Varoufakis's theories.”

High-Stakes Talks

During volatile negotiations, Greece found itself dangerously on the brink of exiting the single currency area.

On the line lay both Greece's future but also the punishing cutbacks demanded in return for bailout funds by international creditors.

Unsuccessful Options

Efforts to find financing elsewhere, such as an urgent plea to Russia to purchase Greek bonds, fell on stony ground.

Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.

Public Vote and U-Turn

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

Although the vote was won resoundingly by voters who opposed the cuts, Tsipras had little option to reject its outcome then negotiate a rescue deal with creditors that turned out to be tougher.

Final Straw

The ex-PM claimed how he began to doubt his finance minister quite early on.

“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the covers of publications globally … it seemed he was enjoying his new role.”

After the minister outlined a contingency plan involving creating a parallel currency as well as issuing vouchers to pensioners, the leader said he realised it was the end questioning Varoufakis: “Are you serious?”

Lasting Criticism

In the memoir, the author concludes how his former ally demonstrated himself to be “unsuitable for a deal that required intricate and sensitive management.”

Tsipras also wrote that his confrontational style made him more and more alone with colleagues, put Greece at risk, and assisted hawks who were pushing for Grexit.

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