Former Prime Minister Alexis Tsipras Asserts Yanis Varoufakis Proved ‘Unfit’ for the role of Greece's Finance Minister During Debt Crisis

In a newly released personal account, called Ithaki, the ex- leader Tsipras spares no criticism as he examines the turbulent era during Greece's debt drama.

An Unconventional Appointment

According to Tsipras's version, Tsipras selected the maverick academic Varoufakis as his treasury head mainly due to his international reputation and Varoufakis's highly compelling abilities as a public orator.

“He was, actually, more of a personality and less of an economic expert,” stated the 51-year-old.

Conflicting Agendas

The former leader claims that his finance chief had his own motives that included advancing his books as well as testing out his own theories using the nation instead of genuinely advocating the country's financial survival.

He noted that those discussions to prevent bankruptcy were “not only a method to secure a better deal for Greece. They were an experiment, an historic chance to demonstrate the truth of his ideas.”

High-Stakes Negotiations

During tense negotiations, Greece came dangerously on the brink of leaving the eurozone.

At stake was both the country's future but also the severe austerity policies required in return for financial aid from foreign lenders.

Failed Alternatives

Efforts to find financing from other sources, including an urgent appeal to Russia to buy Greek government bonds, were rejected.

Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have told Tsipras in Moscow.

Referendum and Reversal

In July 2015, those harsh conditions were subjected to a public vote, an action which threw Europe into a further existential crisis.

Even though the vote was won resoundingly by those who opposed the cuts, Tsipras had little option but to reject its outcome and negotiate a rescue deal from creditors that proved to be more severe.

Final Straw

The ex-PM claimed how he began to doubt Varoufakis relatively soon.

“He was the public image of the talks, the man who drew publicity, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”

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

Enduring Rebuke

Within the memoir, the author concludes how Varoufakis demonstrated himself “unsuitable for a deal that required complex and sensitive management.”

Tsipras also claimed that Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, and assisted hawks that were advocating Grexit.

This account of history has been met with anger along with stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.