Former Prime Minister Alexis Tsipras States Yanis Varoufakis Proved ‘Unfit’ for the role of Greece's Treasury Chief Amid Financial Meltdown

In a recently unveiled autobiography, named Ithaki, the former prime minister Alexis Tsipras does not hold back as he revisits the chaotic period of Greece's economic turmoil.

An Unconventional Choice

According to the ex-PM's version, he chose the unorthodox academic Varoufakis as his finance minister mainly because of the latter's global profile and Varoufakis's highly compelling skills as a public orator.

“In reality, he was, in reality, more of a personality and less of an economic expert,” stated the 51-year-old.

Clashing Priorities

The former leader suggests that Varoufakis possessed a personal agenda that included promoting his publications and testing out his theories on the nation rather than truly advocating its financial survival.

He explained that those talks to prevent bankruptcy were “not only a way to secure a better deal for the country. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's economic theories.”

Critical Talks

During tense discussions, Greece found itself perilously on the brink of leaving the single currency area.

On the line lay not only Greece's future and the severe cutbacks required in return for bailout funds from international creditors.

Failed Alternatives

Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, were rejected.

Helping the indebted country would be tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.

Public Vote and Reversal

That summer, the harsh conditions were subjected to a popular referendum, a move that plunged Europe into a deeper existential crisis.

Although the referendum was carried decisively by voters who opposed the cuts, the prime minister was forced to ignore the result and negotiate a bailout package with foreign lenders that proved to be even harsher.

Breaking Point

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

“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”

When Varoufakis proposed a backup strategy that included establishing a secondary currency as well as distributing coupons to pensioners, the leader knew that it was the end questioning Varoufakis: “Can you be serious?”

Lasting Rebuke

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

He further wrote how his confrontational style made him more and more alone with colleagues, put Greece at risk, while helped hawks that were pushing for Grexit.

The account of history has been met with anger and shock in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.