Former Prime Minister Tsipras Claims Varoufakis Was ‘Unfit’ for the role of Greece's Finance Minister During Financial Meltdown

Within his recently unveiled autobiography, titled Ithaki, the former leader Alexis Tsipras spares no criticism as he examines that chaotic era during Greece's financial crisis.

An Unconventional Appointment

In the ex-PM's version, he chose the maverick economist Varoufakis to be his finance minister mainly due to his global profile and his very persuasive skills when it came to communicator.

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

Clashing Agendas

Tsipras suggests how Varoufakis possessed his own motives which involved promoting his publications and experimenting with his own game theories on Greece instead of genuinely fighting for the country's financial survival.

Tsipras wrote that the discussions to stave off insolvency were “not just a method to secure improved terms for the country. They became an experiment, an historic opportunity to prove the truth of Varoufakis's economic theories.”

High-Stakes Talks

During rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the single currency area.

At stake lay both the country's destiny and those punishing austerity policies demanded in return for financial aid from international creditors.

Failed Options

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

Helping the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.

Public Vote and Reversal

In July 2015, those harsh bailout terms were subjected to a popular referendum, a move that threw the EU into further existential crisis.

Although the vote was carried resoundingly by voters against the cuts, the prime minister had little option to reject its outcome then agree to a rescue deal with creditors that proved to be more severe.

Breaking Point

The ex-PM claimed that he started questioning his finance minister quite early on.

“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”

When Varoufakis outlined a backup strategy that included establishing a secondary currency and issuing vouchers to pensioners, Tsipras said he realised it was game over and asked him: “Can you be serious?”

Enduring Rebuke

In the book, the author asserts how Varoufakis demonstrated himself “unfit for an agreement that required intricate and sensitive management.”

Tsipras also claimed how his confrontational approach made him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were advocating Grexit.

The account of events has been met with anger along with shock among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.