Former Prime Minister Tsipras Claims Varoufakis Was ‘Unsuitable’ for the role of Greek Treasury Chief Amid Debt Crisis

Within his recently unveiled personal account, titled Ithaki, the former prime minister Alexis Tsipras does not hold back as he reflects on that turbulent era of Greece's debt drama.

A Controversial Appointment

As per Tsipras's account, he appointed that unorthodox economist Varoufakis to be his treasury head primarily due to the latter's international reputation and his “extremely attractive” abilities when it came to speaker.

“He was, in reality, more of a personality and less of an economist,” recalled Tsipras.

Clashing Agendas

The former leader suggests that his finance chief had a personal agenda which included promoting his books as well as testing out his game theories on Greece rather than truly advocating its financial survival.

Tsipras wrote that those talks to prevent insolvency were “not only a way to secure improved terms for the country. They were an experiment, an historic chance to demonstrate the validity of his theories.”

Critical Talks

During rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the single currency area.

On the line lay both Greece's future but also those punishing austerity policies required in return for bailout funds from foreign lenders.

Unsuccessful Alternatives

Efforts to secure funds from other sources, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.

Helping Greece would be tantamount to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.

Public Vote and U-Turn

In July 2015, the excoriating bailout terms were put to a public vote, an action which threw Europe into a further crisis of identity.

Although the vote was won resoundingly by those against austerity, the prime minister had little option to reject its outcome then negotiate a rescue deal from foreign lenders which proved to be tougher.

Breaking Point

The ex-PM claimed that he began to doubt Varoufakis relatively soon.

“He was the face of negotiation, the man who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”

After Varoufakis proposed a backup strategy involving creating a secondary currency as well as distributing coupons to retirees, Tsipras said he realised it was game over questioning Varoufakis: “Can you be serious?”

Lasting Rebuke

Within the book, Tsipras concludes how Varoufakis had proved himself “unfit for a deal demanding complex and sensitive handling.”

He further wrote how his aggressive approach left him more and more alone among peers, endangered the country, while assisted hardliners that were pushing for a Greek exit from the euro.

The retelling of history has been met with fury along with shock in some quarters, while the former minister has kept a deafening silence regarding these claims.