Former Prime Minister Alexis Tsipras Asserts Yanis Varoufakis Proved ‘Inappropriate’ as Greece's Treasury Chief Amid Financial Meltdown

Within his newly released personal account, called Ithaki, the former premier Alexis Tsipras pulls no punches while he revisits the turbulent era of Greece's debt drama.

A Controversial Choice

In Tsipras's version, Tsipras selected the maverick economist Yanis Varoufakis as the treasury head mainly because of the latter's worldwide fame along with his very persuasive abilities as a speaker.

“In reality, he was, in reality, more of a celebrity and less of an economist,” wrote the 51-year-old.

Conflicting Priorities

Tsipras alleges how his finance chief possessed a personal motives that included promoting Varoufakis's books and experimenting with his theories using the nation instead of genuinely fighting for its economic stability.

He wrote how the talks to stave off insolvency became “not just a way to secure improved terms for Greece. They became an experiment, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”

High-Stakes Negotiations

Amid volatile discussions, Greece found itself perilously close to leaving the single currency area.

On the line was not only the country's destiny and the harsh cutbacks demanded in return for financial aid by foreign lenders.

Failed Alternatives

Efforts to find funds from other sources, such as a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.

Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.

Referendum Followed by Reversal

That summer, the punitive conditions were subjected to a popular referendum, an action which plunged Europe into further existential crisis.

Although the vote was won decisively by those against austerity, the prime minister was forced but to reject its outcome then agree to a bailout package with creditors that turned out to be even harsher.

Breaking Point

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

“He was the face of negotiation, the figure who drew media attention, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”

After the minister outlined a backup strategy involving creating a secondary currency as well as issuing coupons to retirees, Tsipras knew that it was game over and asked Varoufakis: “Are you serious?”

Enduring Criticism

In the memoir, Tsipras concludes how his former ally had proved himself “unfit for an agreement that required intricate and delicate handling.”

He also wrote that Varoufakis's confrontational approach left him more and more alone among peers, endangered the country, while helped hardliners who were pushing for Grexit.

This retelling of history has provoked fury and stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.