Former Prime Minister Alexis Tsipras Asserts Varoufakis Proved ‘Inappropriate’ as Greece's Finance Minister Amid Debt Crisis

Within his recently unveiled memoir, called Ithaki, the former premier Tsipras spares no criticism as he examines that chaotic period during Greece's debt drama.

An Unconventional Choice

In Tsipras's recollections, Tsipras appointed the maverick academic Varoufakis to be the treasury head mainly because of his global profile and his highly compelling abilities when it came to public orator.

“He was, in reality, more like a celebrity rather than an economic expert,” wrote the 51-year-old.

Clashing Priorities

Tsipras claims that his finance chief had a personal agenda that included promoting Varoufakis's books as well as experimenting with his game theories on Greece rather than genuinely fighting for its economic stability.

Tsipras noted how those negotiations to prevent bankruptcy became “not just a way to secure improved terms for the country. They were an experiment, a monumental chance to prove the validity of Varoufakis's economic theories.”

High-Stakes Talks

Amid volatile negotiations, the country came dangerously close to exiting the eurozone.

On the line was both Greece's destiny but also the harsh cutbacks required in exchange for rescue loans from international creditors.

Unsuccessful Options

Attempts to secure funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.

Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.

Referendum Followed by Reversal

That summer, the punitive conditions were put to a public vote, a move that plunged Europe into a deeper crisis of identity.

Although the referendum was carried decisively by voters against the cuts, the prime minister was forced to ignore the result then agree to a bailout package with foreign lenders that proved to be tougher.

Final Straw

Tsipras claimed that he began to doubt his finance minister relatively soon.

“He was the face of the talks, the man who attracted media attention, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”

When the minister outlined a contingency plan that included establishing a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised it was game over and asked him: “Can you be serious?”

Lasting Criticism

Within the book, the author asserts that his former ally demonstrated himself to be “unfit for an agreement demanding complex and delicate management.”

He further wrote how Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hawks who were advocating Grexit.

The account of history has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.