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

In a recently unveiled autobiography, called Ithaki, the former leader Tsipras spares no criticism while he reflects on the chaotic period of Greece's economic turmoil.

An Unconventional Appointment

As per the ex-PM's account, Tsipras selected the unorthodox economist Yanis Varoufakis as his finance minister primarily because of the latter's worldwide fame along with Varoufakis's highly compelling skills when it came to communicator.

“In reality, he was, actually, more like a star rather than an economist,” stated the 51-year-old.

Conflicting Priorities

Tsipras suggests how his finance chief possessed a personal agenda that included promoting his books and experimenting with his own theories using the nation instead of truly fighting for its financial survival.

He wrote that the talks to stave off bankruptcy became “not just a way of achieving improved terms for Greece. They were an experiment, a monumental chance to demonstrate the validity of his economic theories.”

Critical Negotiations

During rollercoaster negotiations, the country came perilously close to exiting the eurozone.

At stake was both the country's future but also those severe cutbacks required in exchange for bailout funds from international creditors.

Unsuccessful Options

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

Helping the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.

Referendum Followed by U-Turn

That summer, those punitive bailout terms were put to a popular referendum, an action that threw Europe into a deeper existential crisis.

Although the referendum was won resoundingly by voters against austerity, the prime minister was forced but to reject its outcome then negotiate a rescue deal with foreign lenders which proved to be even harsher.

Final Straw

Tsipras claimed how he started questioning Varoufakis relatively soon.

“He was the public image of negotiation, the man who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”

When Varoufakis outlined a contingency plan involving establishing a parallel currency as well as distributing coupons to pensioners, Tsipras knew that it was game over questioning him: “Are you serious?”

Enduring Rebuke

Within the book, the author concludes how Varoufakis had proved himself “unsuitable for an agreement demanding complex and sensitive management.”

Tsipras further claimed how his aggressive approach made him more and more alone among peers, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.

This account of events has been met with anger along with stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.

Hannah Griffith
Hannah Griffith

Urban planner and writer passionate about sustainable city development and community engagement.

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