Ex-PM Alexis Tsipras Claims Yanis Varoufakis Was ‘Unfit’ as Greek Finance Minister During Debt Crisis

In a newly released autobiography, named Ithaki, the ex- premier Tsipras spares no criticism while he examines that chaotic period during Greece's debt drama.

A Controversial Appointment

As per the ex-PM's recollections, he chose that maverick academic Yanis Varoufakis to be the treasury head mainly due to his global profile and his “extremely attractive” abilities when it came to public orator.

“In reality, he was, actually, more like a celebrity and less of an economic expert,” wrote the 51-year-old.

Clashing Agendas

Tsipras claims how Varoufakis had his own motives which involved promoting his books as well as testing out his theories on the nation rather than genuinely fighting for its economic stability.

Tsipras noted how the negotiations to stave off insolvency became “not just a method to secure improved terms for the country. They became an experiment, a monumental opportunity to prove the validity of his ideas.”

Critical Talks

Amid volatile discussions, the country came perilously on the brink of exiting the eurozone.

At stake lay not only Greece's future and the punishing cutbacks demanded in return for financial aid from foreign lenders.

Unsuccessful Alternatives

Attempts to find funds elsewhere, including a desperate plea to Russia to buy Greek government bonds, were rejected.

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

Referendum and Reversal

In July 2015, those punitive conditions were subjected to a popular referendum, a move which plunged Europe into a further crisis of identity.

Although the referendum was won decisively by those who opposed austerity, Tsipras was forced to reject its outcome and negotiate a rescue deal with foreign lenders which turned out to be even harsher.

Final Straw

Tsipras revealed that he started questioning Varoufakis quite early on.

“He was the face of the talks, the figure who attracted publicity, who graced the front pages of publications globally … he gave the impression he relished the spotlight.”

After Varoufakis outlined a contingency plan that included creating a secondary currency and distributing coupons to pensioners, the leader knew it was game over questioning him: “Are you serious?”

Lasting Rebuke

In the memoir, Tsipras concludes how his former ally had proved himself to be “unsuitable for an agreement that required intricate and delicate handling.”

Tsipras also wrote that his aggressive approach made him more and more alone among peers, put Greece at risk, while helped hawks who were advocating Grexit.

This account of history has provoked fury and shock among certain groups, while the former minister has so far maintained a deafening silence on the matter.

Brenda Forbes
Brenda Forbes

Eva is a passionate storyteller and cultural enthusiast who explores the hidden gems of The Hague.