Former Prime Minister Tsipras States Yanis Varoufakis Was ‘Unfit’ for the role of Greek Treasury Chief During Debt Crisis

Within his recently unveiled autobiography, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he revisits the chaotic period during Greece's economic turmoil.

A Controversial Choice

According to the ex-PM's recollections, Tsipras selected that maverick economist Varoufakis to be the treasury head largely because of the latter's international reputation along with his very persuasive abilities as a speaker.

“He was, in reality, more of a star rather than an economist,” recalled the 51-year-old.

Clashing Agendas

The former leader suggests how his finance chief possessed his own agenda which included promoting Varoufakis's books and experimenting with his own economic models on Greece rather than truly advocating the country's financial survival.

Tsipras explained that those negotiations to avoid insolvency became “not only a method to secure improved terms for the country. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”

Critical Negotiations

Amid rollercoaster negotiations, Greece found itself perilously on the brink of leaving the eurozone.

At stake was both the country's destiny but also the severe cutbacks required in return for rescue loans from international creditors.

Failed Alternatives

Efforts to secure funds elsewhere, including a desperate plea to the Kremlin to buy Greek bonds, were rejected.

Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.

Public Vote Followed by Reversal

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

Even though the vote was won decisively by voters who opposed austerity, the prime minister was forced to ignore the result and negotiate a rescue deal from creditors which proved to be more severe.

Final Straw

Tsipras claimed how he began to doubt Varoufakis relatively soon.

“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”

When the minister outlined a backup strategy involving establishing a parallel currency as well as distributing vouchers to pensioners, the leader said he realised that it was the end and asked Varoufakis: “Are you serious?”

Lasting Rebuke

In the book, Tsipras concludes how Varoufakis had proved himself “unsuitable for an agreement that required complex and delicate handling.”

Tsipras further wrote how his confrontational style left him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were pushing for Grexit.

The account of history has provoked fury and stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.