Former Prime Minister Tsipras Asserts Yanis Varoufakis Was ‘Inappropriate’ as Greece's Finance Minister Amid Financial Meltdown

In a newly released autobiography, named Ithaki, the former prime minister Tsipras pulls no punches while he examines the turbulent period during Greece's economic turmoil.

A Controversial Choice

In the ex-PM's account, Tsipras selected that unorthodox economist Yanis Varoufakis to be his finance minister mainly because of his global profile along with his “extremely attractive” abilities when it came to speaker.

“He was, in reality, more like a personality and less of an economic expert,” stated Tsipras.

Conflicting Agendas

The former leader alleges that Varoufakis had his own agenda which involved advancing his books and testing out his own game theories using the nation instead of genuinely advocating its economic stability.

Tsipras explained that those talks to stave off insolvency were “not only a method to secure improved terms for the country. They were an experiment, a monumental chance to prove the validity of Varoufakis's ideas.”

Critical Negotiations

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

On the line was not only Greece's future and the harsh cutbacks required in return for financial aid from international creditors.

Unsuccessful Options

Attempts to secure funds elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.

Assisting the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.

Referendum Followed by Reversal

In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action that plunged Europe into a deeper crisis of identity.

Even though the referendum was carried decisively by those who opposed austerity, the prime minister had little option but to ignore the result and negotiate a bailout package with foreign lenders which proved to be more severe.

Final Straw

The ex-PM revealed how he started questioning Varoufakis quite early on.

“He was the public image of negotiation, the figure who attracted media attention, who graced the covers of publications the world over … it seemed he was enjoying his new role.”

When Varoufakis outlined a backup strategy involving creating a secondary currency and distributing vouchers to retirees, the leader said he realised it was game over and asked Varoufakis: “Can you be serious?”

Lasting Criticism

Within the book, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and sensitive handling.”

He further claimed how Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, while assisted hawks who were pushing for Grexit.

The account of history has provoked fury along with shock among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.

Ronald Bray
Ronald Bray

A tech enthusiast and business strategist with over a decade of experience in digital transformation and startup consulting.