Ex-PM Tsipras States Yanis Varoufakis Was ‘Inappropriate’ for the role of Greece's Finance Minister Amid Financial Meltdown

In a freshly published autobiography, titled Ithaki, the former prime minister Tsipras does not hold back while he examines the chaotic era during Greece's financial crisis.

A Controversial Choice

As per the ex-PM's account, he appointed the maverick academic Varoufakis to be his finance minister primarily due to his worldwide fame along with his “extremely attractive” skills when it came to speaker.

“He was, actually, more like a personality rather than an economist,” stated the 51-year-old.

Conflicting Agendas

Tsipras alleges that his finance chief possessed a personal motives which included advancing his publications as well as testing out his own game theories on the nation rather than truly fighting for its financial survival.

He explained how the talks to avoid bankruptcy were “not just a method of achieving a better deal for the country. They became an experiment, a monumental opportunity to demonstrate the validity of his theories.”

Critical Negotiations

During volatile discussions, Greece came dangerously on the brink of leaving the eurozone.

On the line was both Greece's future and those severe austerity measures required in exchange for rescue loans from foreign lenders.

Unsuccessful Options

Efforts to secure funds elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.

Helping the indebted country was equivalent to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.

Referendum Followed by Reversal

That summer, the punitive conditions were put to a public vote, a move which threw Europe into a further existential crisis.

Even though the referendum was won resoundingly by those against the cuts, the prime minister had little option to ignore the result then agree to a bailout package with creditors that turned out to be tougher.

Final Straw

Tsipras revealed how he began to doubt Varoufakis quite early on.

“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”

After Varoufakis proposed a contingency plan involving establishing a parallel currency as well as distributing coupons to pensioners, Tsipras knew it was the end questioning him: “Are you serious?”

Enduring Criticism

In the book, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for a deal that required intricate and sensitive management.”

He further claimed how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, and helped hardliners who were advocating Grexit.

The account of history has provoked fury and shock in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.

Kenneth Gillespie
Kenneth Gillespie

An avid hiker and outdoor enthusiast with a passion for sustainable fashion and exploring Canada's wilderness.