Former Prime Minister Tsipras States Varoufakis Proved ‘Unfit’ for the role of Greece's Treasury Chief Amid Financial Meltdown

In a recently unveiled personal account, titled Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on that turbulent era during Greece's financial crisis.

An Unconventional Appointment

As per the ex-PM's recollections, Tsipras chose that unorthodox academic Yanis Varoufakis to be the finance minister largely because of his worldwide fame and Varoufakis's very persuasive skills when it came to speaker.

“In reality, he was, truthfully, more of a celebrity rather than an economist,” recalled Tsipras.

Conflicting Priorities

The former leader alleges that Varoufakis had his own agenda that involved advancing Varoufakis's publications and experimenting with his economic models using Greece instead of truly advocating its economic stability.

He wrote how those discussions to prevent insolvency were “not just a method of achieving a better deal for Greece. They were an experiment, a monumental opportunity to prove the validity of his ideas.”

Critical Talks

Amid rollercoaster discussions, the country found itself dangerously close to leaving the eurozone.

At stake was both Greece's destiny and the harsh cutbacks required in exchange for rescue loans from foreign lenders.

Unsuccessful Alternatives

Efforts to find funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.

Helping the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.

Public Vote and U-Turn

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

Even though the referendum was won resoundingly by those who opposed the cuts, the prime minister was forced to ignore the result and negotiate a rescue deal with creditors that turned out to be more severe.

Final Straw

The ex-PM revealed how he started questioning Varoufakis quite early on.

“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”

When the minister outlined a contingency plan that included establishing a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Can you be serious?”

Lasting Rebuke

Within the book, Tsipras asserts that Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and sensitive management.”

He further claimed how Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, while assisted hardliners that were advocating Grexit.

The account of history has provoked anger and stunned disbelief in some quarters, while the former minister has maintained a deafening silence on the matter.

Timothy Smith
Timothy Smith

A seasoned gaming analyst and casino reviewer with over a decade of expertise in online gambling trends and strategies.