Ex-PM Alexis Tsipras Asserts Varoufakis Proved ‘Unfit’ for the role of Greece's Finance Minister During Financial Meltdown

In a newly released memoir, called Ithaki, the ex- premier Alexis Tsipras pulls no punches as he reflects on that chaotic era of Greece's economic turmoil.

An Unconventional Appointment

As per Tsipras's account, Tsipras chose the unorthodox economist Yanis Varoufakis as his finance minister mainly due to his international reputation and Varoufakis's very persuasive skills when it came to public orator.

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

Conflicting Priorities

The former leader alleges how his finance chief possessed his own agenda which involved advancing his publications as well as testing out his own game theories using Greece instead of genuinely advocating its economic stability.

He noted that the discussions to stave off bankruptcy became “not only a method of achieving a better deal for the country. They were an experiment, an historic opportunity to prove the validity of his theories.”

Critical Talks

Amid rollercoaster negotiations, Greece found itself perilously close to leaving the single currency area.

On the line lay both Greece's future and those harsh austerity policies demanded in return for financial aid by foreign lenders.

Failed Options

Efforts to secure financing from other sources, including a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.

Helping the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.

Referendum and U-Turn

In July 2015, the harsh conditions were subjected to a public vote, an action which threw Europe into deeper crisis of identity.

Even though the vote was won resoundingly by those against austerity, Tsipras was forced but to ignore the result then agree to a rescue deal from foreign lenders that proved to be tougher.

Breaking Point

The ex-PM revealed that he started questioning Varoufakis relatively soon.

“Varoufakis was the face of the talks, the figure who attracted publicity, who appeared on the covers of magazines the world over … he gave the impression he was enjoying his new role.”

After the minister proposed a backup strategy involving establishing a parallel currency as well as distributing vouchers to pensioners, the leader knew that it was the end questioning Varoufakis: “Can you be serious?”

Enduring Criticism

Within the memoir, Tsipras concludes that Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and delicate handling.”

He further wrote how his aggressive approach made him increasingly isolated among peers, endangered the country, and assisted hawks who were pushing for a Greek exit from the euro.

This retelling of history has been met with fury and stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.