Ex-PM Alexis Tsipras Asserts Varoufakis Was ‘Unfit’ for the role of Greek Treasury Chief Amid Financial Meltdown

Within his freshly published autobiography, titled Ithaki, the ex- premier Tsipras spares no criticism as he revisits that turbulent period of Greece's economic turmoil.

A Controversial Appointment

As per the ex-PM's recollections, Tsipras chose the unorthodox academic Varoufakis to be the finance minister largely because of his global profile and his highly compelling abilities when it came to communicator.

“In reality, he was, in reality, more like a celebrity and less of an economic expert,” wrote Tsipras.

Clashing Agendas

The former leader suggests how his finance chief had a personal motives which included promoting Varoufakis's publications as well as testing out his theories using Greece rather than genuinely fighting for the country's economic stability.

Tsipras noted that those discussions to prevent bankruptcy were “not just a way to secure improved terms for the country. They became a test, an historic opportunity to prove the validity of his ideas.”

High-Stakes Talks

Amid volatile discussions, Greece found itself perilously on the brink of exiting the eurozone.

On the line was not only Greece's future and the punishing austerity policies demanded in exchange for bailout funds from international creditors.

Unsuccessful Options

Attempts to find funds elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.

Helping Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.

Referendum Followed by Reversal

In July 2015, those harsh conditions were put to a popular referendum, a move which threw the EU into a deeper crisis of identity.

Although the vote was won resoundingly by voters who opposed austerity, the prime minister was forced but to reject its outcome then negotiate a bailout package from foreign lenders that proved to be more severe.

Final Straw

Tsipras claimed that he began to doubt Varoufakis quite early on.

“He was the face of the talks, the man who attracted publicity, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”

After the minister outlined a backup strategy involving establishing a secondary currency as well as issuing vouchers to retirees, the leader said he realised it was the end questioning Varoufakis: “Is this for real?”

Lasting Criticism

Within the book, Tsipras asserts how Varoufakis had proved himself “unfit for an agreement demanding complex and delicate management.”

Tsipras further wrote that his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and helped hardliners who were advocating Grexit.

The account of history has been met with fury and shock in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.