Ex-PM Alexis Tsipras Asserts Varoufakis Proved ‘Unfit’ as Greek Finance Minister During Financial Meltdown

In a newly released autobiography, named Ithaki, the ex- leader Alexis Tsipras spares no criticism as he reflects on the turbulent period of Greece's financial crisis.

A Controversial Choice

As per Tsipras's version, Tsipras chose that unorthodox economist Varoufakis to be his finance minister mainly because of the latter's worldwide fame along with Varoufakis's highly compelling abilities when it came to communicator.

“In reality, he was, in reality, more like a star rather than an economic expert,” stated Tsipras.

Clashing Priorities

Tsipras alleges that his finance chief had a personal motives which included promoting his books as well as testing out his game theories using Greece instead of genuinely fighting for the country's financial survival.

He explained that those discussions to stave off bankruptcy were “not only a method of achieving a better deal for Greece. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”

High-Stakes Negotiations

Amid rollercoaster negotiations, Greece found itself perilously close to leaving the single currency area.

At stake was both Greece's future but also the severe austerity policies required in exchange for rescue loans by foreign lenders.

Unsuccessful Options

Efforts to find funds from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.

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

Public Vote and Reversal

That summer, those harsh conditions were put to a popular referendum, an action which plunged Europe into further existential crisis.

Although the vote was carried decisively by those who opposed the cuts, Tsipras was forced to ignore the result then negotiate a rescue deal with foreign lenders which proved to be tougher.

Final Straw

Tsipras revealed how he started questioning Varoufakis relatively soon.

“He was the face of negotiation, the figure who drew publicity, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”

When Varoufakis proposed a contingency plan that included establishing a secondary currency and issuing vouchers to retirees, the leader said he realised it was game over questioning Varoufakis: “Is this for real?”

Enduring Rebuke

In the book, the author concludes how his former ally had proved himself “unfit for a deal demanding complex and sensitive management.”

He further claimed how his aggressive style left him increasingly isolated with colleagues, endangered the country, while assisted hawks who were advocating a Greek exit from the euro.

The account of events has been met with anger and stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.