Ex-PM Alexis Tsipras States Yanis Varoufakis Was ‘Unfit’ for the role of Greek Finance Minister During Debt Crisis

Within his newly released autobiography, called Ithaki, the ex- premier Tsipras does not hold back while he examines that chaotic era of Greece's debt drama.

A Controversial Appointment

In Tsipras's account, Tsipras selected that unorthodox economist Yanis Varoufakis to be the finance minister largely because of the latter's international reputation and Varoufakis's very persuasive skills as a communicator.

“He was, actually, more of a personality rather than an economist,” stated the 51-year-old.

Conflicting Agendas

The former leader claims how Varoufakis had a personal motives which included advancing his books and experimenting with his own economic models using Greece instead of genuinely fighting for the country's financial survival.

Tsipras noted that those negotiations to stave off insolvency became “not just a way of achieving a better deal for Greece. They became a test, an historic opportunity to demonstrate the validity of his economic theories.”

High-Stakes Talks

Amid tense discussions, Greece came perilously on the brink of exiting the single currency area.

At stake was not only the country's future but also those punishing austerity policies required in exchange for bailout funds from international creditors.

Failed Options

Efforts to secure funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, were rejected.

Assisting Greece was equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.

Public Vote and U-Turn

That summer, those harsh conditions were put to a popular referendum, a move which plunged the EU into a further existential crisis.

Even though the vote was won resoundingly by voters who opposed austerity, Tsipras was forced to reject its outcome and agree to a bailout package from creditors that proved to be more severe.

Final Straw

Tsipras claimed how he began to doubt his finance minister quite early on.

“He was the public image of the talks, the figure who drew publicity, who appeared on the covers of publications the world over … it seemed he was enjoying the spotlight.”

When Varoufakis proposed a contingency plan that included creating a parallel currency as well as distributing vouchers to pensioners, Tsipras knew that it was game over questioning him: “Is this for real?”

Lasting Criticism

Within the memoir, the author concludes that his former ally had proved himself to be “unfit for an agreement that required complex and delicate handling.”

Tsipras further claimed how Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, while helped hardliners who were pushing for a Greek exit from the euro.

The account of history has provoked fury along with stunned disbelief among certain groups, whereas the former minister has kept a deafening silence on the matter.