Former Prime Minister Alexis Tsipras Claims Yanis Varoufakis Was ‘Unfit’ as Greece's Finance Minister During Financial Meltdown

In a recently unveiled memoir, called Ithaki, the former prime minister Tsipras spares no criticism while he reflects on that chaotic era of Greece's economic turmoil.

A Controversial Appointment

As per the ex-PM's account, Tsipras appointed the unorthodox academic Varoufakis as the treasury head primarily because of his global profile and his “extremely attractive” skills when it came to public orator.

“In reality, he was, in reality, more of a personality and less of an economist,” recalled Tsipras.

Clashing Agendas

Tsipras claims how Varoufakis had a personal motives that involved advancing Varoufakis's publications and testing out his theories on Greece instead of genuinely fighting for the country's economic stability.

He explained how the discussions to prevent bankruptcy were “not just a way to secure improved terms for the country. They became an experiment, a monumental chance to prove the validity of his theories.”

Critical Talks

Amid volatile discussions, the country found itself dangerously on the brink of leaving the eurozone.

At stake lay both the country's destiny but also the severe cutbacks required in exchange for bailout funds from foreign lenders.

Unsuccessful Options

Attempts to secure funds from other sources, including a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.

Helping Greece was tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.

Referendum Followed by Reversal

In July 2015, the punitive conditions were subjected to a popular referendum, a move that threw the EU into a deeper existential crisis.

Even though the vote was carried resoundingly by voters who opposed austerity, the prime minister was forced but to reject its outcome and negotiate a rescue deal with foreign lenders that proved to be more severe.

Breaking Point

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

“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”

After the minister proposed a backup strategy that included creating a secondary currency as well as distributing coupons to pensioners, the leader knew it was game over questioning him: “Is this for real?”

Lasting Rebuke

Within the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and sensitive management.”

Tsipras further wrote how his aggressive approach made him increasingly isolated with colleagues, endangered the country, and helped hardliners who were advocating Grexit.

The retelling of events has provoked fury along with stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.