Former Prime Minister Alexis Tsipras Claims Yanis Varoufakis Proved ‘Unfit’ as Greek Treasury Chief During Financial Meltdown

Within his freshly published autobiography, named Ithaki, the former premier Alexis Tsipras does not hold back while he reflects on the turbulent period during Greece's financial crisis.

A Controversial Choice

In the ex-PM's recollections, Tsipras appointed that unorthodox economist Varoufakis to be the treasury head primarily because of his global profile and Varoufakis's highly compelling abilities as a public orator.

“He was, in reality, more of a star and less of an economic expert,” wrote the 51-year-old.

Clashing Priorities

Tsipras claims how his finance chief had a personal agenda that included promoting his books and testing out his game theories on Greece instead of truly fighting for the country's economic stability.

Tsipras noted that those talks to stave off bankruptcy became “not just a method to secure a better deal for the country. They became a test, an historic chance to demonstrate the validity of his ideas.”

High-Stakes Negotiations

During rollercoaster negotiations, the country found itself dangerously on the brink of exiting the eurozone.

At stake lay both the country's destiny but also those punishing cutbacks required in return for bailout funds from international creditors.

Failed Options

Attempts to find financing from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.

Helping Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras in Moscow.

Public Vote Followed by Reversal

That summer, the excoriating conditions were subjected to a popular referendum, a move that plunged the EU into further existential crisis.

Even though the referendum was carried decisively by voters against austerity, the prime minister had little option but to reject its outcome then negotiate a rescue deal from creditors which proved to be tougher.

Final Straw

Tsipras claimed how he started questioning his finance minister relatively soon.

“He was the public image of the talks, the figure who attracted media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”

When the minister proposed a contingency plan that included creating a parallel currency as well as distributing vouchers to pensioners, the leader said he realised it was game over questioning Varoufakis: “Is this for real?”

Lasting Criticism

Within the memoir, Tsipras asserts that Varoufakis demonstrated himself “unsuitable for a deal demanding complex and delicate management.”

Tsipras also wrote that his confrontational style made him more and more alone with colleagues, endangered the country, and assisted hardliners who were pushing for Grexit.

The retelling of history has provoked fury along with shock in some quarters, whereas the former minister has so far kept a deafening silence on the matter.