Former Prime Minister Tsipras Claims Varoufakis Was ‘Unsuitable’ for the role of Greece's Treasury Chief During Debt Crisis

In a recently unveiled personal account, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism while he reflects on the turbulent period during Greece's economic turmoil.

An Unconventional Appointment

As per the ex-PM's version, Tsipras chose the maverick economist Varoufakis as his finance minister largely because of the latter's worldwide fame along with Varoufakis's highly compelling abilities as a communicator.

“He was, truthfully, more of a personality and less of an economic expert,” stated the 51-year-old.

Conflicting Priorities

The former leader claims how his finance chief possessed a personal agenda which included promoting his publications and experimenting with his game theories on Greece rather than genuinely advocating the country's economic stability.

Tsipras noted that those discussions to prevent bankruptcy were “not only a method to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the validity of his economic theories.”

Critical Talks

During tense negotiations, Greece found itself dangerously on the brink of leaving the single currency area.

On the line was not only Greece's future but also those severe austerity measures required in exchange for financial aid by international creditors.

Unsuccessful Options

Efforts to find financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.

Assisting Greece was equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.

Public Vote Followed by Reversal

That summer, those punitive conditions were put to a popular referendum, an action which threw the EU into further crisis of identity.

Even though the vote was won decisively by those against the cuts, the prime minister was forced to reject its outcome and agree to a rescue deal with creditors which turned out to be even harsher.

Breaking Point

Tsipras claimed how he started questioning Varoufakis relatively soon.

“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the covers of publications globally … he gave the impression he was enjoying his new role.”

After Varoufakis proposed a contingency plan that included establishing a secondary currency and issuing coupons to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Can you be serious?”

Enduring Criticism

In the book, the author concludes that his former ally had proved himself “unfit for a deal that required complex and sensitive management.”

Tsipras also wrote that his aggressive style made him more and more alone among peers, put Greece at risk, while assisted hardliners who were pushing for Grexit.

This retelling of history has provoked fury and shock in some quarters, while the former minister has maintained a deafening silence regarding these claims.

Katherine Drake
Katherine Drake

A seasoned gambling analyst with over a decade of experience in online betting markets and risk management strategies.