Former Prime Minister Tsipras Asserts Varoufakis Was ‘Inappropriate’ for the role of Greece's Finance Minister During Debt Crisis

Within his freshly published memoir, titled Ithaki, the former premier Alexis Tsipras does not hold back as he examines the turbulent period during Greece's debt drama.

An Unconventional Choice

According to Tsipras's recollections, he selected the maverick economist Varoufakis to be the finance minister mainly due to his worldwide fame along with Varoufakis's very persuasive skills when it came to speaker.

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

Conflicting Priorities

The former leader suggests how his finance chief possessed a personal agenda which included advancing his books and testing out his own theories using Greece instead of genuinely fighting for the country's financial survival.

Tsipras wrote how those negotiations to stave off bankruptcy became “not just a method of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the validity of his ideas.”

High-Stakes Talks

Amid tense discussions, Greece found itself dangerously close to leaving the single currency area.

On the line was not only Greece's destiny and those punishing cutbacks required in exchange for financial aid by foreign lenders.

Failed Options

Attempts to find financing elsewhere, such as a desperate plea to Russia to buy Greek bonds, went unanswered.

Helping Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras during their meeting.

Public Vote and Reversal

In July 2015, those punitive bailout terms were put to a popular referendum, a move which plunged Europe into further existential crisis.

Even though the vote was carried decisively by those who opposed the cuts, the prime minister was forced but to reject its outcome then agree to a rescue deal with foreign lenders that proved to be even harsher.

Breaking Point

Tsipras revealed that he started questioning his finance minister quite early on.

“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”

When the minister outlined a backup strategy involving establishing a parallel currency as well as distributing coupons to retirees, Tsipras knew that it was the end and asked him: “Can you be serious?”

Lasting Criticism

Within the memoir, the author concludes how Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and delicate management.”

He also claimed how Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, and helped hawks that were pushing for Grexit.

The retelling of events has been met with anger and stunned disbelief in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.