Former Prime Minister Tsipras Claims Yanis Varoufakis Proved ‘Unfit’ for the role of Greece's Finance Minister During Financial Meltdown

In a recently unveiled autobiography, named Ithaki, the ex- leader Tsipras pulls no punches as he revisits the turbulent period of Greece's economic turmoil.

A Controversial Appointment

As per the ex-PM's account, he chose that maverick economist Varoufakis to be the treasury head primarily due to his worldwide fame along with his highly compelling abilities when it came to public orator.

“He was, actually, more of a star and less of an economist,” recalled the 51-year-old.

Clashing Priorities

Tsipras suggests how Varoufakis possessed a personal agenda that included promoting his publications as well as testing out his theories using Greece rather than truly fighting for the country's financial survival.

He noted that those discussions to prevent bankruptcy were “not only a way of achieving a better deal for the country. They were a test, a monumental chance to demonstrate the truth of Varoufakis's ideas.”

Critical Negotiations

Amid volatile discussions, the country found itself perilously close to exiting the eurozone.

At stake was both the country's destiny and those severe austerity policies demanded in return for rescue loans from foreign lenders.

Failed Options

Attempts to find funds elsewhere, including a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.

Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly informed Tsipras in Moscow.

Referendum and U-Turn

That summer, those harsh conditions were subjected to a popular referendum, a move that plunged Europe into a deeper crisis of identity.

Although the vote was carried decisively by voters against the cuts, the prime minister was forced but to ignore the result and negotiate a rescue deal from creditors that proved to be tougher.

Final Straw

The ex-PM claimed how he started questioning his finance minister quite early on.

“Varoufakis was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”

After the minister outlined a contingency plan involving creating a secondary currency and issuing coupons to pensioners, Tsipras knew it was game over and asked him: “Is this for real?”

Lasting Criticism

In the memoir, the author concludes how his former ally demonstrated himself “unsuitable for a deal demanding complex and sensitive handling.”

Tsipras further wrote that his aggressive approach left him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were advocating a Greek exit from the euro.

This retelling of events has been met with anger and shock among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.

Michelle Davis
Michelle Davis

A seasoned gaming analyst with over a decade of experience covering online casinos and industry developments.