Ex-PM Alexis Tsipras Asserts Yanis Varoufakis Proved ‘Unsuitable’ for the role of Greek Treasury Chief Amid Debt Crisis

Within his recently unveiled autobiography, named Ithaki, the ex- leader Alexis Tsipras pulls no punches as he reflects on that turbulent era of Greece's debt drama.

A Controversial Choice

In Tsipras's recollections, he appointed the maverick academic Varoufakis as his treasury head primarily because of the latter's global profile along with his “extremely attractive” abilities when it came to communicator.

“In reality, he was, in reality, more like a celebrity rather than an economist,” recalled Tsipras.

Clashing Priorities

The former leader alleges how Varoufakis possessed a personal motives which involved advancing Varoufakis's books and testing out his economic models on Greece rather than truly advocating its economic stability.

He explained how the talks to stave off bankruptcy were “not just a method of achieving improved terms for the country. They were a test, a monumental chance to demonstrate the validity of his theories.”

Critical Talks

During rollercoaster negotiations, Greece came perilously on the brink of leaving the single currency area.

At stake was both the country's destiny but also the harsh cutbacks demanded in exchange for bailout funds from foreign lenders.

Failed Options

Attempts to secure funds from other sources, such as a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.

Assisting Greece was tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.

Referendum and U-Turn

That summer, the excoriating conditions were put to a public vote, a move which plunged Europe into further crisis of identity.

Even though the vote was carried resoundingly by those against the cuts, Tsipras had little option but to ignore the result then agree to a bailout package with foreign lenders that turned out to be more severe.

Breaking Point

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

“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the covers of magazines globally … he gave the impression he was enjoying the spotlight.”

After the minister outlined a backup strategy involving creating a secondary currency and distributing coupons to pensioners, the leader knew that it was the end questioning him: “Can you be serious?”

Lasting Rebuke

In the memoir, the author asserts how Varoufakis had proved himself “unfit for a deal that required complex and delicate handling.”

Tsipras further wrote that Varoufakis's confrontational style left him increasingly isolated among peers, put Greece at risk, and helped hardliners who were advocating a Greek exit from the euro.

This retelling of events has provoked fury along with shock among certain groups, while the former minister has kept a conspicuous quiet on the matter.