Ex-PM Alexis Tsipras Claims Yanis Varoufakis Was ‘Unfit’ for the role of Greek Finance Minister During Financial Meltdown

Within his newly released autobiography, titled Ithaki, the former leader Tsipras pulls no punches while he examines the turbulent period of Greece's debt drama.

A Controversial Choice

According to the ex-PM's version, he selected that maverick economist Yanis Varoufakis as the finance minister largely because of the latter's worldwide fame along with his highly compelling skills when it came to public orator.

“In reality, he was, actually, more like a celebrity rather than an economist,” stated the 51-year-old.

Clashing Priorities

Tsipras suggests how Varoufakis possessed a personal motives which involved advancing Varoufakis's books and experimenting with his own economic models using the nation instead of truly fighting for the country's financial survival.

He explained that the negotiations to avoid bankruptcy became “not just a method to secure a better deal for the country. They became a test, an historic chance to prove the truth of Varoufakis's ideas.”

Critical Talks

During rollercoaster discussions, Greece found itself dangerously close to exiting the eurozone.

At stake was not only Greece's future and the harsh cutbacks demanded in return for rescue loans from international creditors.

Failed Alternatives

Attempts to find funds elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.

Helping Greece was tantamount to throwing money into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.

Public Vote and Reversal

In July 2015, the excoriating bailout terms were put to a popular referendum, an action that plunged Europe into deeper existential crisis.

Although the referendum was carried resoundingly by those who opposed the cuts, the prime minister had little option to ignore the result and agree to a bailout package from creditors that turned out to be tougher.

Final Straw

The ex-PM claimed that he started questioning Varoufakis quite early on.

“He was the public image of the talks, the man who drew publicity, who graced the front pages of publications the world over … it seemed he was enjoying his new role.”

When the minister outlined a contingency plan involving establishing a parallel currency and distributing vouchers to pensioners, Tsipras knew that it was the end questioning Varoufakis: “Can you be serious?”

Lasting Criticism

Within the memoir, Tsipras asserts that Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”

He also wrote how his confrontational style made him increasingly isolated among peers, put Greece at risk, and assisted hardliners that 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 kept a deafening silence on the matter.

Linda Paul
Linda Paul

Award-winning journalist with over a decade of experience covering international affairs and digital media trends.