Former Prime Minister Alexis Tsipras Asserts Yanis Varoufakis Was ‘Inappropriate’ as Greece's Treasury Chief Amid Financial Meltdown

Within his freshly published autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he revisits the chaotic era of Greece's debt drama.

An Unconventional Choice

As per Tsipras's recollections, Tsipras chose that maverick academic Yanis Varoufakis to be the finance minister primarily due to the latter's global profile along with his “extremely attractive” skills as a speaker.

“He was, actually, more like a star rather than an economic expert,” stated Tsipras.

Conflicting Priorities

The former leader alleges that Varoufakis possessed a personal motives which involved advancing Varoufakis's books and experimenting with his own economic models using the nation instead of genuinely fighting for its economic stability.

He wrote that the discussions to stave off bankruptcy became “not only a way to secure improved terms for Greece. They became an experiment, an historic opportunity to prove the truth of his ideas.”

High-Stakes Talks

During volatile negotiations, Greece came perilously close to leaving the single currency area.

At stake lay not only Greece's future and the punishing austerity measures demanded in exchange for financial aid by foreign lenders.

Failed Options

Efforts to secure funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.

Assisting Greece would be tantamount to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.

Referendum and U-Turn

That summer, those punitive conditions were put to a popular referendum, a move which threw Europe into a further crisis of identity.

Although the referendum was won decisively by those who opposed the cuts, Tsipras was forced to reject its outcome then negotiate a rescue deal from creditors that turned out to be more severe.

Final Straw

The ex-PM revealed that he began to doubt his finance minister relatively soon.

“He was the public image of the talks, the man who attracted publicity, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”

After Varoufakis proposed a contingency plan involving establishing a secondary currency as well as issuing coupons to pensioners, the leader said he realised that it was the end and asked him: “Are you serious?”

Enduring Rebuke

In the memoir, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for a deal that required intricate and delicate handling.”

Tsipras further wrote how his confrontational style left him increasingly isolated among peers, endangered the country, while assisted hardliners that were pushing for Grexit.

The account of history has provoked anger and stunned disbelief among certain groups, while Varoufakis has kept a deafening silence on the matter.

Jamie Green
Jamie Green

Eleanor Vance is a business journalist specializing in UK startup culture and award programs.