Former Prime Minister Tsipras Claims Varoufakis Proved ‘Inappropriate’ as Greece's Finance Minister During Debt Crisis

Within his recently unveiled memoir, named Ithaki, the former leader Tsipras spares no criticism while he reflects on that chaotic era of Greece's debt drama.

An Unconventional Appointment

In the ex-PM's version, he chose that unorthodox academic Yanis Varoufakis to be his treasury head largely because of the latter's global profile along with his “extremely attractive” skills as a speaker.

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

Clashing Agendas

Tsipras claims how his finance chief had his own motives which involved advancing Varoufakis's books and testing out his theories on Greece rather than genuinely advocating the country's economic stability.

He noted that those negotiations to stave off insolvency were “not just a method of achieving a better deal for the country. They were an experiment, an historic chance to prove the validity of his economic theories.”

Critical Negotiations

During rollercoaster negotiations, the country found itself dangerously on the brink of exiting the eurozone.

At stake was not only the country's destiny but also the severe cutbacks demanded in return for rescue loans by international creditors.

Unsuccessful Options

Efforts to find financing from other sources, such as an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.

Assisting Greece was equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.

Referendum and Reversal

In July 2015, those harsh bailout terms were put to a public vote, an action that plunged Europe into a further existential crisis.

Although the referendum was carried resoundingly by those who opposed the cuts, the prime minister had little option to reject its outcome and agree to a bailout package with foreign lenders that turned out to be tougher.

Breaking Point

Tsipras claimed that he began to doubt his finance minister relatively soon.

“He was the public image of the talks, the man who drew publicity, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”

After the minister outlined a backup strategy involving establishing a secondary currency as well as issuing coupons to pensioners, the leader knew it was the end questioning him: “Is this for real?”

Lasting Rebuke

In the memoir, Tsipras concludes that his former ally demonstrated himself “unfit for a deal that required intricate and delicate handling.”

Tsipras also wrote that Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, and helped hardliners that were advocating Grexit.

The account of events has provoked anger along with shock among certain groups, while the former minister has maintained a conspicuous quiet on the matter.