Former Prime Minister Tsipras States Yanis Varoufakis Proved ‘Inappropriate’ as Greek Treasury Chief During Debt Crisis

In a freshly published autobiography, called Ithaki, the former premier Tsipras does not hold back while he examines the turbulent era of Greece's economic turmoil.

An Unconventional Choice

As per Tsipras's recollections, he chose that unorthodox academic Yanis Varoufakis as the treasury head largely due to his worldwide fame along with his “extremely attractive” abilities as a public orator.

“In reality, he was, in reality, more like a personality rather than an economic expert,” stated the 51-year-old.

Conflicting Agendas

The former leader suggests how his finance chief possessed a personal motives which involved promoting his publications and experimenting with his game theories on the nation rather than truly fighting for its financial survival.

He explained how those talks to stave off bankruptcy became “not just a way to secure improved terms for the country. They became a test, a monumental opportunity to prove the truth of Varoufakis's theories.”

Critical Negotiations

During rollercoaster discussions, the country found itself perilously close to leaving the single currency area.

On the line was not only Greece's destiny but also those harsh austerity policies demanded in return for bailout funds from foreign lenders.

Failed Alternatives

Efforts to find funds from other sources, including an urgent plea to Russia to purchase Greek government bonds, were rejected.

Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.

Referendum Followed by Reversal

That summer, those punitive bailout terms were subjected to a popular referendum, a move which plunged Europe into a deeper crisis of identity.

Even though the referendum was won resoundingly by voters who opposed austerity, Tsipras was forced to ignore the result then negotiate a bailout package from creditors that proved to be tougher.

Breaking Point

The ex-PM claimed how he started questioning Varoufakis relatively soon.

“Varoufakis was the face of negotiation, the figure who drew media attention, who appeared on the covers of publications the world over … it seemed he relished his new role.”

After the minister outlined a contingency plan involving establishing a parallel currency and distributing coupons to retirees, the leader knew it was game over and asked him: “Is this for real?”

Lasting Criticism

Within the book, Tsipras asserts that his former ally had proved himself “unfit for a deal demanding complex and delicate management.”

Tsipras also wrote that Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, while helped hardliners that were advocating Grexit.

This retelling of history has been met with anger along with shock in some quarters, while the former minister has kept a conspicuous quiet on the matter.