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

In a freshly published memoir, named Ithaki, the former premier Tsipras spares no criticism as he reflects on the chaotic era of Greece's financial crisis.

An Unconventional Choice

In Tsipras's version, Tsipras appointed that unorthodox academic Yanis Varoufakis to be the treasury head largely because of the latter's international reputation along with his very persuasive abilities as a public orator.

“He was, actually, more like a personality and less of an economist,” wrote Tsipras.

Clashing Priorities

Tsipras alleges how Varoufakis possessed a personal motives that included promoting his publications and testing out his own theories using the nation rather than genuinely fighting for the country's economic stability.

Tsipras noted how those discussions to avoid insolvency became “not just a way of achieving improved terms for Greece. They became an experiment, an historic opportunity to prove the truth of Varoufakis's ideas.”

Critical Negotiations

Amid volatile discussions, the country found itself perilously on the brink of leaving the eurozone.

At stake lay not only the country's future and those severe cutbacks demanded in return for bailout funds from international creditors.

Unsuccessful Alternatives

Attempts to find funds from other sources, such as a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.

Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.

Public Vote Followed by U-Turn

In July 2015, those punitive conditions were put to a public vote, a move that plunged Europe into a further crisis of identity.

Although the vote was won decisively by those against the cuts, the prime minister was forced but to reject its outcome then agree to a rescue deal with creditors which turned out to be more severe.

Breaking Point

Tsipras claimed how he started questioning his finance minister quite early on.

“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the front pages of publications the world over … he gave the impression he relished his new role.”

When the minister outlined a contingency plan involving creating a secondary currency and distributing vouchers to pensioners, Tsipras knew it was the end and asked him: “Can you be serious?”

Lasting Rebuke

In the book, Tsipras concludes that Varoufakis demonstrated himself “unfit for a deal demanding intricate and delicate handling.”

He further claimed that his aggressive style made him more and more alone among peers, endangered the country, while assisted hawks who were pushing for Grexit.

The account of events has been met with fury along with shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.