Ex-PM Tsipras States Yanis Varoufakis Was ‘Inappropriate’ as Greece's Finance Minister Amid Financial Meltdown

Within his newly released autobiography, named Ithaki, the ex- prime minister Tsipras pulls no punches while he reflects on that chaotic period during Greece's financial crisis.

An Unconventional Choice

As per Tsipras's version, Tsipras selected the maverick academic Varoufakis to be his finance minister primarily because of the latter's global profile along with his “extremely attractive” skills when it came to communicator.

“He was, actually, more like a personality and less of an economist,” stated the 51-year-old.

Clashing Priorities

The former leader suggests that his finance chief had his own agenda which involved advancing his publications and experimenting with his economic models using the nation instead of truly advocating the country's financial survival.

Tsipras explained that those negotiations to avoid insolvency became “not just a way of achieving a better deal for Greece. They became a test, an historic chance to demonstrate the truth of Varoufakis's ideas.”

Critical Talks

During volatile discussions, the country found itself dangerously on the brink of leaving the eurozone.

At stake was not only Greece's destiny and those severe cutbacks demanded in exchange for bailout funds from international creditors.

Failed Alternatives

Efforts to secure financing from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.

Helping Greece was equivalent to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.

Referendum Followed by U-Turn

In July 2015, those harsh conditions were put to a public vote, an action that threw Europe into deeper crisis of identity.

Even though the referendum was carried decisively by those against the cuts, Tsipras had little option to reject its outcome then agree to a bailout package with creditors that turned out to be more severe.

Final Straw

The ex-PM claimed that he began to doubt Varoufakis relatively soon.

“He was the face of the talks, the figure who drew media attention, who graced the covers of magazines globally … it seemed he relished his new role.”

After the minister outlined a contingency plan involving creating a parallel currency and issuing vouchers to pensioners, Tsipras knew it was the end and asked him: “Can you be serious?”

Enduring Criticism

Within the memoir, the author concludes that Varoufakis demonstrated himself “unfit for a deal that required intricate and sensitive management.”

Tsipras further wrote how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while helped hawks who were advocating a Greek exit from the euro.

The account of events has been met with fury along with shock in some quarters, while the former minister has maintained a conspicuous quiet on the matter.