Ex-PM Alexis Tsipras States Varoufakis Proved ‘Inappropriate’ for the role of Greece's Finance Minister During Debt Crisis

In a recently unveiled autobiography, named Ithaki, the former leader Tsipras pulls no punches as he examines the turbulent era during Greece's economic turmoil.

A Controversial Appointment

In the ex-PM's version, Tsipras selected the maverick academic Yanis Varoufakis as his finance minister primarily due to the latter's international reputation and Varoufakis's “extremely attractive” abilities when it came to communicator.

“In reality, he was, truthfully, more of a star and less of an economist,” stated Tsipras.

Clashing Agendas

Tsipras alleges that Varoufakis possessed a personal motives which involved advancing his books and testing out his theories on the nation rather than genuinely fighting for its financial survival.

He wrote that the talks to avoid bankruptcy became “not just a way of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the truth of his ideas.”

High-Stakes Talks

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

At stake was both the country's destiny and the punishing austerity policies demanded in return for financial aid from foreign lenders.

Unsuccessful Options

Efforts to secure financing elsewhere, including an urgent plea to Russia to buy Greek government bonds, were rejected.

Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.

Referendum and U-Turn

That summer, those harsh conditions were put to a public vote, an action which threw Europe into a deeper existential crisis.

Even though the vote was carried resoundingly by voters who opposed austerity, Tsipras was forced but to ignore the result and negotiate a bailout package with creditors which proved to be tougher.

Breaking Point

The ex-PM claimed that he started questioning Varoufakis relatively soon.

“He was the face of the talks, the man who drew media attention, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”

When Varoufakis outlined a backup strategy involving establishing a parallel currency and issuing vouchers to retirees, the leader knew that it was game over questioning him: “Is this for real?”

Lasting Rebuke

Within the book, the author concludes how Varoufakis demonstrated himself “unsuitable for an agreement demanding complex and delicate management.”

Tsipras also wrote how his aggressive style left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.

This retelling of events has been met with fury along with stunned disbelief in some quarters, while the former minister has so far maintained a deafening silence on the matter.