Ex-PM Alexis Tsipras States Yanis Varoufakis Was ‘Inappropriate’ as Greece's Finance Minister During Financial Meltdown

Within his freshly published autobiography, titled Ithaki, the former premier Tsipras does not hold back as he reflects on the chaotic period of Greece's financial crisis.

An Unconventional Appointment

As per Tsipras's version, he chose that unorthodox economist Varoufakis to be his finance minister primarily because of the latter's worldwide fame along with Varoufakis's highly compelling abilities when it came to speaker.

“He was, truthfully, more of a celebrity and less of an economic expert,” stated the 51-year-old.

Clashing Agendas

The former leader claims how Varoufakis possessed his own agenda that involved promoting his publications as well as testing out his theories using Greece rather than genuinely fighting for its financial survival.

He wrote that those talks to avoid bankruptcy were “not just a method of achieving a better deal for Greece. They were an experiment, an historic opportunity to prove the validity of Varoufakis's economic theories.”

Critical Negotiations

During volatile negotiations, the country came dangerously close to exiting the single currency area.

At stake was not only the country's destiny and those harsh cutbacks demanded in return for rescue loans from foreign lenders.

Unsuccessful Options

Attempts to find funds elsewhere, including an urgent appeal to Russia to buy Greek government bonds, were rejected.

Helping Greece would be tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.

Public Vote Followed by Reversal

In July 2015, those excoriating bailout terms were subjected to a popular referendum, an action which threw the EU into deeper existential crisis.

Even though the vote was won decisively by voters against austerity, the prime minister had little option to reject its outcome then agree to a bailout package from foreign lenders that proved to be even harsher.

Breaking Point

The ex-PM revealed that he started questioning Varoufakis relatively soon.

“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”

When the minister proposed a contingency plan involving establishing a secondary currency as well as issuing coupons to retirees, the leader said he realised that it was the end and asked him: “Can you be serious?”

Enduring Rebuke

Within the book, the author concludes that his former ally demonstrated himself “unsuitable for an agreement that required intricate and sensitive handling.”

He further wrote that his confrontational style left him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.

This retelling of history has been met with fury along with shock among certain groups, while Varoufakis has maintained a deafening silence on the matter.

Robin Wilson MD
Robin Wilson MD

Elena Visser is a cloud architect and tech writer with a passion for simplifying complex cloud concepts.