Former Prime Minister Tsipras States Yanis Varoufakis Proved ‘Unsuitable’ for the role of Greek Finance Minister During Financial Meltdown

In a freshly published personal account, named Ithaki, the former leader Tsipras does not hold back as he reflects on that turbulent period of Greece's debt drama.

An Unconventional Appointment

As per the ex-PM's recollections, Tsipras chose that maverick economist Yanis Varoufakis to be the finance minister primarily because of the latter's global profile along with his “extremely attractive” abilities as a public orator.

“He was, in reality, more of a star rather than an economic expert,” recalled Tsipras.

Clashing Priorities

Tsipras suggests how Varoufakis possessed his own agenda which involved promoting his books and experimenting with his game theories on the nation instead of truly fighting for the country's economic stability.

Tsipras wrote that the discussions to prevent bankruptcy became “not only a way of achieving a better deal for the country. They were an experiment, an historic opportunity to demonstrate the truth of his theories.”

High-Stakes Negotiations

During tense negotiations, the country found itself perilously close to exiting the single currency area.

On the line was not only Greece's future but also those severe austerity measures demanded in exchange for financial aid by foreign lenders.

Failed Options

Efforts to secure financing from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, were rejected.

Assisting the indebted country would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.

Public Vote and Reversal

In July 2015, those punitive conditions were put to a public vote, an action which threw the EU into further existential crisis.

Although the vote was won resoundingly by those against austerity, the prime minister had little option to reject its outcome then negotiate a bailout package from foreign lenders that turned out to be tougher.

Final Straw

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

“Varoufakis was the face of the talks, the figure who drew media attention, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”

After Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing coupons to pensioners, the leader knew that it was the end and asked Varoufakis: “Can you be serious?”

Lasting Criticism

Within the book, the author asserts how his former ally had proved himself “unsuitable for a deal demanding complex and delicate handling.”

Tsipras also wrote how his aggressive style left him more and more alone with colleagues, endangered the country, while helped hawks who were pushing for Grexit.

The account of history has been met with anger along with shock in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.

Kim Myers
Kim Myers

A seasoned casino strategist with over a decade of experience in online gaming, specializing in roulette tactics and probability analysis.