Ex-PM Tsipras States Varoufakis Proved ‘Unfit’ for the role of Greece's Finance Minister Amid Financial Meltdown

Within his freshly published memoir, titled Ithaki, the former premier Tsipras pulls no punches while he revisits that chaotic period of Greece's economic turmoil.

An Unconventional Appointment

According to the ex-PM's version, Tsipras appointed that maverick economist Yanis Varoufakis as the finance minister mainly because of his worldwide fame and his “extremely attractive” abilities when it came to public orator.

“In reality, he was, actually, more of a celebrity and less of an economist,” recalled the 51-year-old.

Clashing Agendas

Tsipras claims that his finance chief possessed a personal agenda which included advancing Varoufakis's books as well as testing out his game theories using the nation rather than genuinely fighting for its financial survival.

He explained that those discussions to avoid insolvency became “not only a method of achieving a better deal for the country. They became an experiment, a monumental chance to prove the validity of his economic theories.”

High-Stakes Talks

During rollercoaster negotiations, the country found itself dangerously close to leaving the eurozone.

On the line was both the country's future and those punishing austerity policies required in exchange for bailout funds by foreign lenders.

Failed Options

Attempts to secure funds elsewhere, such as an urgent appeal to Russia to buy Greek government bonds, were rejected.

Assisting Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.

Public Vote and U-Turn

In July 2015, the excoriating bailout terms were subjected to a public vote, a move that plunged the EU into deeper crisis of identity.

Even though the vote was carried resoundingly by voters against austerity, the prime minister was forced but to reject its outcome then negotiate a bailout package from foreign lenders which proved to be even harsher.

Final Straw

The ex-PM revealed that he started questioning his finance minister quite early on.

“He was the public image of the talks, the man who drew publicity, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”

When the minister proposed a contingency plan that included establishing a secondary currency as well as distributing vouchers to retirees, the leader knew that it was the end questioning Varoufakis: “Is this for real?”

Lasting Criticism

Within the memoir, Tsipras concludes that his former ally had proved himself “unsuitable for an agreement that required complex and delicate handling.”

Tsipras further wrote how his confrontational approach left him increasingly isolated among peers, put Greece at risk, while helped hawks that were pushing for Grexit.

This retelling of events has provoked fury and shock among certain groups, while the former minister has so far kept a deafening silence on the matter.

Kevin Ramirez
Kevin Ramirez

A passionate educator and researcher specializing in literature and digital humanities, with over a decade of experience in academia.

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