Former Prime Minister Alexis Tsipras Asserts Varoufakis Proved ‘Inappropriate’ for the role of Greek Treasury Chief Amid Financial Meltdown

Within his freshly published memoir, titled Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he reflects on that chaotic era during Greece's economic turmoil.

A Controversial Appointment

According to Tsipras's recollections, Tsipras selected that unorthodox academic Yanis Varoufakis to be his treasury head mainly because of his worldwide fame and Varoufakis's very persuasive skills as a public orator.

“He was, in reality, more like a personality rather than an economic expert,” wrote Tsipras.

Conflicting Agendas

The former leader claims that Varoufakis possessed his own motives which included advancing his publications and testing out his game theories using Greece rather than genuinely advocating its economic stability.

He explained how those negotiations to prevent insolvency were “not only a way of achieving improved terms for Greece. They were a test, an historic chance to prove the truth of his theories.”

Critical Talks

During tense negotiations, Greece found itself dangerously on the brink of leaving the single currency area.

At stake was not only Greece's destiny and the harsh austerity measures demanded in exchange for rescue loans from foreign lenders.

Failed Alternatives

Attempts to find funds elsewhere, including a desperate appeal to Russia to buy Greek government bonds, went unanswered.

Assisting Greece was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.

Referendum Followed by Reversal

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

Even though the vote was won decisively by voters against austerity, the prime minister was forced to reject its outcome and negotiate a bailout package with creditors which proved to be more severe.

Final Straw

Tsipras revealed that he started questioning Varoufakis relatively soon.

“Varoufakis was the face of the talks, the man who attracted publicity, who graced the front pages of publications globally … it seemed he was enjoying the spotlight.”

When the minister proposed a backup strategy involving creating a secondary currency and distributing coupons to pensioners, Tsipras knew that it was game over questioning him: “Is this for real?”

Enduring Rebuke

In the memoir, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and sensitive handling.”

Tsipras further wrote that Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.

The retelling of events has provoked anger along with stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.