Former Prime Minister Tsipras Claims Yanis Varoufakis Proved ‘Unsuitable’ as Greece's Treasury Chief During Financial Meltdown

In a newly released autobiography, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he reflects on that chaotic period during Greece's debt drama.

An Unconventional Choice

As per the ex-PM's account, he chose that unorthodox academic Varoufakis as the finance minister largely due to his worldwide fame along with his “extremely attractive” skills when it came to communicator.

“In reality, he was, in reality, more of a celebrity rather than an economic expert,” wrote the 51-year-old.

Clashing Priorities

Tsipras suggests how Varoufakis possessed a personal motives which involved promoting his books and testing out his own theories on Greece instead of truly fighting for the country's financial survival.

Tsipras noted that the talks to prevent insolvency became “not only a way to secure improved terms for Greece. They were a test, an historic chance to demonstrate the validity of Varoufakis's ideas.”

High-Stakes Negotiations

Amid rollercoaster negotiations, Greece came perilously on the brink of exiting the single currency area.

On the line lay both the country's future and those punishing austerity policies demanded in exchange for financial aid by foreign lenders.

Unsuccessful Alternatives

Efforts to secure financing from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.

Helping Greece was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.

Public Vote Followed by U-Turn

In July 2015, those harsh conditions were put to a popular referendum, a move which plunged the EU into deeper crisis of identity.

Although the referendum was won decisively by those against austerity, the prime minister had little option but to reject its outcome then negotiate a rescue deal from foreign lenders which turned out to be tougher.

Breaking Point

The ex-PM claimed how he started questioning Varoufakis quite early on.

“Varoufakis was the face of the talks, the man who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he was enjoying his new role.”

After the minister proposed a backup strategy that included creating a secondary currency as well as distributing vouchers to pensioners, the leader knew that it was the end and asked him: “Can you be serious?”

Enduring Rebuke

Within the book, Tsipras asserts that Varoufakis had proved himself “unfit for an agreement that required complex and delicate handling.”

He also wrote that his aggressive style left him increasingly isolated among peers, endangered the country, and assisted hawks that were advocating Grexit.

The retelling of history has provoked fury along with stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.

Jimmy Wolf
Jimmy Wolf

Aerospace engineer with over a decade of experience in satellite systems and space mission planning, passionate about advancing space technology.