Former Prime Minister Tsipras Claims Yanis Varoufakis Proved ‘Unfit’ as Greece's Treasury Chief Amid Financial Meltdown

Within his newly released personal account, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches while he revisits the chaotic era of Greece's economic turmoil.

A Controversial Choice

According to the ex-PM's account, he chose that unorthodox economist Varoufakis to be the finance minister largely due to the latter's worldwide fame and his highly compelling abilities when it came to communicator.

“He was, actually, more like a personality and less of an economic expert,” wrote Tsipras.

Clashing Agendas

Tsipras alleges how his finance chief possessed a personal motives which involved advancing his books and experimenting with his theories using Greece rather than genuinely advocating its financial survival.

Tsipras wrote how those discussions to stave off insolvency became “not only a method to secure a better deal for Greece. They became an experiment, an historic opportunity to demonstrate the validity of his theories.”

Critical Negotiations

Amid volatile negotiations, Greece found itself dangerously on the brink of exiting the single currency area.

On the line was both Greece's destiny but also those punishing cutbacks required in return for bailout funds by foreign lenders.

Unsuccessful Options

Attempts to find funds elsewhere, including a desperate plea to Russia to purchase Greek bonds, fell on stony ground.

Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.

Referendum and Reversal

In July 2015, the harsh bailout terms were put to a popular referendum, a move that threw the EU into deeper existential crisis.

Even though the referendum was carried decisively by those who opposed the cuts, the prime minister had little option but to ignore the result then agree to a rescue deal with creditors that proved to be tougher.

Breaking Point

The ex-PM claimed that he began to doubt Varoufakis relatively soon.

“Varoufakis was the public image of the talks, the man who drew publicity, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”

After the minister proposed a contingency plan involving establishing a secondary currency as well as distributing vouchers to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Are you serious?”

Lasting Rebuke

In the book, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for an agreement that required complex and sensitive handling.”

He also wrote that Varoufakis's aggressive style left him increasingly isolated with colleagues, endangered the country, while helped hardliners who were pushing for Grexit.

The retelling of history has been met with fury along with stunned disbelief among certain groups, whereas the former minister has kept a deafening silence on the matter.