Former Prime Minister Tsipras Claims Varoufakis Proved ‘Unsuitable’ for the role of Greek Finance Minister Amid Debt Crisis

Within his freshly published personal account, called Ithaki, the former premier Alexis Tsipras pulls no punches as he revisits that chaotic era of Greece's economic turmoil.

A Controversial Appointment

In Tsipras's recollections, he chose the maverick academic Varoufakis to be his finance minister mainly because of his global profile and Varoufakis's highly compelling abilities when it came to speaker.

“In reality, he was, truthfully, more like a celebrity rather than an economist,” recalled Tsipras.

Conflicting Priorities

The former leader claims that Varoufakis possessed his own motives which involved advancing Varoufakis's publications as well as experimenting with his economic models on Greece instead of truly fighting for its financial survival.

Tsipras noted that the discussions to prevent bankruptcy were “not just a method of achieving a better deal for the country. They were a test, an historic chance to prove the truth of Varoufakis's theories.”

High-Stakes Talks

During volatile negotiations, Greece came dangerously on the brink of leaving the eurozone.

At stake lay not only Greece's future but also those punishing austerity policies required in return for rescue loans by international creditors.

Unsuccessful Options

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

Assisting Greece would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.

Public Vote and U-Turn

That summer, the excoriating bailout terms were subjected to a public vote, an action that plunged the EU into a further existential crisis.

Although the referendum was carried resoundingly by voters who opposed austerity, the prime minister had little option but to reject its outcome then agree to a bailout package from foreign lenders which proved to be tougher.

Breaking Point

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

“He was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”

After the minister outlined a backup strategy that included establishing a secondary currency as well as distributing vouchers to retirees, Tsipras knew it was the end and asked him: “Are you serious?”

Lasting Criticism

In the memoir, the author asserts that Varoufakis had proved himself to be “unfit for an agreement demanding intricate and sensitive handling.”

He also wrote how his confrontational approach made him increasingly isolated among peers, endangered the country, and helped hardliners who were pushing for Grexit.

This account of history has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.