Former Prime Minister Alexis Tsipras States Yanis Varoufakis Proved ‘Unfit’ for the role of Greek Finance Minister Amid Financial Meltdown

In a freshly published autobiography, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he revisits the turbulent era during Greece's debt drama.

A Controversial Choice

In the ex-PM's version, Tsipras chose the unorthodox economist Yanis Varoufakis as the finance minister largely because of his international reputation and his very persuasive skills when it came to communicator.

“He was, in reality, more like a personality and less of an economist,” stated the 51-year-old.

Clashing Priorities

The former leader suggests how his finance chief possessed his own motives which involved advancing his books and testing out his theories using Greece rather than truly advocating its financial survival.

Tsipras wrote how the negotiations to prevent bankruptcy became “not just a way to secure improved terms for Greece. They were an experiment, an historic chance to prove the validity of his economic theories.”

High-Stakes Talks

Amid volatile negotiations, Greece came perilously close to exiting the eurozone.

At stake lay both the country's future but also the severe austerity measures required in exchange for rescue loans by international creditors.

Unsuccessful Options

Efforts to secure funds elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, were rejected.

Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.

Public Vote Followed by Reversal

That summer, the harsh bailout terms were put to a public vote, a move that plunged Europe into further existential crisis.

Even though the vote was carried decisively 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 more severe.

Final Straw

Tsipras revealed how he started questioning Varoufakis relatively soon.

“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”

After the minister outlined a contingency plan involving establishing a secondary currency and issuing vouchers to retirees, the leader said he realised that it was the end questioning him: “Can you be serious?”

Enduring Criticism

Within the book, Tsipras concludes how his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive handling.”

Tsipras also wrote how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while assisted hawks who were pushing for Grexit.

The retelling of events has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet on the matter.

Lee Reyes
Lee Reyes

Elena is a seasoned innovation consultant with over a decade of experience helping businesses grow through strategic thinking and creative solutions.