Ex-PM Tsipras Claims Varoufakis Proved ‘Unsuitable’ as Greek Finance Minister Amid Financial Meltdown

In a freshly published personal account, titled Ithaki, the former leader Tsipras does not hold back as he examines the turbulent period during Greece's economic turmoil.

A Controversial Appointment

In the ex-PM's version, Tsipras selected that unorthodox academic Yanis Varoufakis to be the finance minister largely because of his worldwide fame along with his “extremely attractive” abilities when it came to communicator.

“He was, in reality, more like a celebrity and less of an economic expert,” recalled Tsipras.

Conflicting Priorities

The former leader claims that his finance chief had a personal agenda that included advancing Varoufakis's books and experimenting with his game theories on Greece rather than genuinely advocating the country's economic stability.

He explained that those negotiations to avoid insolvency were “not just a way of achieving a better deal for Greece. They became a test, an historic chance to prove the validity of Varoufakis's theories.”

High-Stakes Talks

Amid rollercoaster discussions, Greece found itself perilously close to leaving the eurozone.

At stake lay not only the country's destiny and those severe austerity policies required in exchange for financial aid by foreign lenders.

Failed Options

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

Assisting the indebted country would be equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.

Referendum and U-Turn

In July 2015, the excoriating bailout terms were put to a public vote, a move which threw the EU into deeper crisis of identity.

Although the referendum was carried decisively by voters who opposed the cuts, Tsipras was forced to ignore the result then negotiate a rescue deal from creditors that turned out to be tougher.

Breaking Point

Tsipras claimed that he began to doubt Varoufakis quite early on.

“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the covers of magazines the world over … it seemed he was enjoying the spotlight.”

After Varoufakis outlined a backup strategy involving establishing a parallel currency as well as distributing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Are you serious?”

Lasting Rebuke

In the memoir, Tsipras concludes that his former ally had proved himself to be “unfit for a deal demanding complex and sensitive handling.”

He also claimed how his aggressive style made him more and more alone among peers, put Greece at risk, and helped hardliners that were advocating Grexit.

The account of events has been met with anger along with stunned disbelief in some quarters, while the former minister has so far kept a deafening silence regarding these claims.