Ex-PM Alexis Tsipras Claims Yanis Varoufakis Proved ‘Unfit’ for the role of Greek Treasury Chief Amid Financial Meltdown

In a recently unveiled autobiography, called Ithaki, the former prime minister Alexis Tsipras does not hold back as he reflects on the turbulent period of Greece's economic turmoil.

An Unconventional Choice

According to the ex-PM's account, Tsipras selected the unorthodox academic Varoufakis to be his treasury head largely because of his worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to communicator.

“In reality, he was, actually, more of a personality and less of an economic expert,” stated Tsipras.

Conflicting Agendas

Tsipras suggests how Varoufakis had his own agenda that involved advancing his publications as well as testing out his own theories using the nation instead of truly advocating its financial survival.

He explained how the talks to avoid insolvency became “not only a way to secure improved terms for the country. They were a test, an historic chance to demonstrate the validity of his economic theories.”

High-Stakes Negotiations

During tense discussions, the country found itself perilously on the brink of leaving the eurozone.

On the line lay not only Greece's future but also those harsh austerity measures required in return for bailout funds by foreign lenders.

Failed Options

Efforts to secure funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.

Assisting Greece would be equivalent to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.

Referendum and U-Turn

That summer, those punitive bailout terms were put to a popular referendum, a move which plunged Europe into a deeper existential crisis.

Although the referendum was won decisively by those against austerity, Tsipras had little option but to ignore the result then negotiate a rescue deal from creditors that turned out to be tougher.

Breaking Point

The ex-PM revealed that he started questioning Varoufakis quite early on.

“Varoufakis was the face of the talks, the man who attracted publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”

After the minister proposed a contingency plan involving creating a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised that it was the end questioning him: “Can you be serious?”

Lasting Rebuke

In the book, the author asserts how Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and sensitive management.”

Tsipras further claimed that his confrontational approach left him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.

This retelling of history has provoked anger along with stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.