Former Prime Minister Tsipras Asserts Varoufakis Proved ‘Unsuitable’ for the role of Greece's Finance Minister Amid Debt Crisis

In a recently unveiled memoir, named Ithaki, the former premier Tsipras pulls no punches as he reflects on the turbulent period of Greece's debt drama.

A Controversial Appointment

According to the ex-PM's recollections, Tsipras selected that unorthodox economist Yanis Varoufakis to be the finance minister mainly because of his worldwide fame along with his “extremely attractive” abilities when it came to communicator.

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

Conflicting Priorities

The former leader suggests how Varoufakis had a personal agenda that involved advancing Varoufakis's books as well as experimenting with his game theories using the nation rather than truly fighting for the country's economic stability.

Tsipras explained how the discussions to stave off insolvency were “not just a way of achieving improved terms for the country. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”

Critical Talks

During volatile negotiations, the country found itself perilously on the brink of leaving the eurozone.

On the line was both the country's destiny but also the harsh cutbacks required in return for bailout funds by foreign lenders.

Failed Alternatives

Attempts to secure funds from other sources, including an urgent plea to Russia to buy Greek bonds, went unanswered.

Helping Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.

Referendum and Reversal

That summer, those harsh bailout terms were subjected to a public vote, a move which plunged the EU into a further crisis of identity.

Although the vote was won decisively by those against austerity, the prime minister was forced to reject its outcome and negotiate a rescue deal with creditors which proved to be more severe.

Final Straw

The ex-PM claimed how he began to doubt his finance minister relatively soon.

“He was the face of the talks, the figure who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”

After Varoufakis outlined a backup strategy involving creating a secondary currency and issuing vouchers to retirees, Tsipras said he realised it was game over and asked him: “Is this for real?”

Lasting Criticism

In the book, the author concludes how Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and delicate management.”

Tsipras also wrote how his aggressive approach made him more and more alone among peers, endangered the country, and helped hardliners who were pushing for Grexit.

The account of history has provoked anger and shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.

Christopher Poole
Christopher Poole

Lieke is een ervaren life coach met een passie voor mindfulness en persoonlijke ontwikkeling.