Former Prime Minister Alexis Tsipras Claims Yanis Varoufakis Was ‘Inappropriate’ as Greece's Finance Minister During Financial Meltdown

In a recently unveiled autobiography, called Ithaki, the former prime minister Tsipras spares no criticism while he examines the turbulent era of Greece's financial crisis.

An Unconventional Appointment

In Tsipras's account, Tsipras selected that maverick economist Varoufakis to be his treasury head mainly because of his worldwide fame along with Varoufakis's very persuasive abilities as a public orator.

“In reality, he was, in reality, more like a personality rather than an economic expert,” stated the 51-year-old.

Clashing Agendas

Tsipras suggests how Varoufakis possessed his own motives which included promoting Varoufakis's books as well as testing out his own theories on the nation instead of genuinely advocating its financial survival.

Tsipras noted that the talks to prevent insolvency were “not only a method to secure improved terms for Greece. They became an experiment, an historic chance to prove the truth of his theories.”

Critical Negotiations

Amid volatile negotiations, the country found itself perilously on the brink of exiting the single currency area.

At stake was both Greece's future but also those harsh austerity measures required in return for financial aid from international creditors.

Unsuccessful Alternatives

Attempts to secure funds from other sources, including an urgent plea to the Kremlin to buy Greek government bonds, were rejected.

Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.

Public Vote and Reversal

In July 2015, those excoriating conditions were subjected to a popular referendum, a move which plunged Europe into a deeper existential crisis.

Although the vote was won resoundingly by voters against austerity, Tsipras was forced to ignore the result then agree to a rescue deal with creditors which turned out to be more severe.

Final Straw

Tsipras revealed how he began to doubt his finance minister relatively soon.

“He was the public image of negotiation, the man who attracted publicity, who graced the covers of publications globally … it seemed he relished his new role.”

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

Enduring Rebuke

Within the book, Tsipras asserts that Varoufakis had proved himself “unsuitable for a deal demanding complex and delicate handling.”

He further claimed how his confrontational style made him increasingly isolated among peers, endangered the country, and helped hardliners who were pushing for a Greek exit from the euro.

The retelling of events has provoked fury and shock among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.

Jessica Maxwell
Jessica Maxwell

A travel writer and cultural enthusiast based in Vancouver, sharing firsthand experiences and tips about Canadian adventures.