Ex-PM Alexis Tsipras Asserts Varoufakis Was ‘Inappropriate’ for the role of Greece's Treasury Chief During Financial Meltdown

Within his recently unveiled autobiography, called Ithaki, the ex- leader Alexis Tsipras spares no criticism as he examines that chaotic era during Greece's debt drama.

An Unconventional Appointment

As per the ex-PM's version, he chose the maverick academic Varoufakis to be the finance minister primarily because of his global profile and his very persuasive abilities when it came to speaker.

“In reality, he was, in reality, more of a personality and less of an economic expert,” recalled the 51-year-old.

Conflicting Priorities

The former leader alleges that his finance chief possessed a personal agenda which involved promoting his books and experimenting with his economic models on Greece instead of genuinely advocating the country's financial survival.

Tsipras wrote that the discussions to stave off bankruptcy became “not only a method of achieving a better deal for Greece. They became a test, a monumental opportunity to demonstrate the validity of his economic theories.”

Critical Talks

Amid tense negotiations, Greece found itself perilously close to leaving the eurozone.

On the line was both the country's destiny and those punishing austerity measures required in return for financial aid from international creditors.

Unsuccessful Alternatives

Attempts to secure funds elsewhere, including an urgent appeal to Russia to buy Greek government bonds, went unanswered.

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

Public Vote and U-Turn

In July 2015, those excoriating conditions were put to a public vote, an action which threw the EU into deeper crisis of identity.

Even though the vote was won decisively by those against austerity, Tsipras was forced to reject its outcome then agree to a rescue deal from foreign lenders that proved to be even harsher.

Final Straw

The ex-PM claimed that he started questioning his finance minister quite early on.

“Varoufakis was the face of the talks, the man who drew publicity, who graced the covers of publications globally … he gave the impression he relished the spotlight.”

When Varoufakis outlined a contingency plan that included creating a parallel currency and issuing vouchers to pensioners, the leader said he realised it was the end questioning Varoufakis: “Is this for real?”

Lasting Rebuke

Within the book, the author concludes how Varoufakis demonstrated himself to be “unfit for a deal that required complex and sensitive management.”

He also wrote how Varoufakis's aggressive approach left him increasingly isolated among peers, endangered the country, while helped hawks who were advocating Grexit.

The retelling of events has been met with anger along with stunned disbelief in some quarters, while Varoufakis has maintained a deafening silence regarding these claims.

Jeffery Myers
Jeffery Myers

Environmental scientist and sustainability advocate with over a decade of experience in eco-friendly living and green technology.