Ex-PM Alexis Tsipras Asserts Yanis Varoufakis Was ‘Unsuitable’ as Greece's Treasury Chief Amid Debt Crisis

Within his recently unveiled personal account, called Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he examines that chaotic era of Greece's economic turmoil.

An Unconventional Appointment

In Tsipras's version, he selected that unorthodox academic Varoufakis to be the treasury head primarily due to his global profile and Varoufakis's very persuasive skills when it came to speaker.

“In reality, he was, truthfully, more of a personality rather than an economic expert,” wrote the 51-year-old.

Clashing Priorities

Tsipras suggests that his finance chief possessed his own agenda which involved promoting his publications and experimenting with his own game theories on Greece rather than truly fighting for the country's financial survival.

He noted how those negotiations to stave off insolvency became “not only a method of achieving a better deal for the country. They were a test, a monumental chance to demonstrate the validity of Varoufakis's theories.”

High-Stakes Talks

During volatile discussions, Greece came perilously on the brink of leaving the single currency area.

At stake lay both Greece's destiny and the severe austerity measures demanded in return for financial aid by international creditors.

Unsuccessful Options

Efforts to secure funds from other sources, such as a desperate appeal to Russia to purchase Greek bonds, went unanswered.

Helping Greece was tantamount to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.

Referendum and Reversal

In July 2015, those excoriating conditions were put to a public vote, a move that threw Europe into a deeper crisis of identity.

Although the referendum was carried decisively by those who opposed austerity, the prime minister had little option to reject its outcome and negotiate a rescue deal with creditors that turned out to be tougher.

Breaking Point

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

“He was the public image of negotiation, the man who drew media attention, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”

When Varoufakis outlined a backup strategy that included creating a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Can you be serious?”

Enduring Rebuke

Within the book, the author concludes that Varoufakis demonstrated himself “unsuitable for an agreement that required intricate and sensitive management.”

He further wrote how Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, while assisted hawks that were pushing for Grexit.

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