🔗 Share this article Former Prime Minister Alexis Tsipras States Varoufakis Proved ‘Unfit’ for the role of Greek Treasury Chief During Financial Meltdown Within his newly released autobiography, named Ithaki, the former premier Alexis Tsipras pulls no punches as he examines the turbulent era of Greece's financial crisis. An Unconventional Choice As per Tsipras's account, Tsipras selected that maverick academic Yanis Varoufakis as the finance minister mainly due to his worldwide fame and Varoufakis's very persuasive abilities as a speaker. “He was, truthfully, more like a personality rather than an economist,” wrote the 51-year-old. Conflicting Agendas Tsipras claims that his finance chief possessed his own motives which included advancing Varoufakis's publications and experimenting with his economic models using Greece rather than truly advocating its economic stability. He noted how the discussions to stave off insolvency were “not just a way to secure improved terms for the country. They became a test, a monumental opportunity to prove the truth of Varoufakis's ideas.” Critical Negotiations During volatile discussions, Greece found itself perilously on the brink of leaving the eurozone. At stake was both Greece's future but also the punishing austerity policies 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 government bonds, fell on stony ground. Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow. Referendum and U-Turn That summer, those harsh bailout terms were subjected to a public vote, a move that plunged the EU into deeper existential crisis. Although the vote was won resoundingly by those who opposed austerity, Tsipras was forced but to reject its outcome and agree to a bailout package from foreign lenders which proved to be tougher. Breaking Point The ex-PM claimed how he began to doubt his finance minister relatively soon. “He was the face of the talks, the figure who drew publicity, who appeared on the covers of publications globally … it seemed he was enjoying his new role.” When Varoufakis proposed a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, Tsipras knew it was the end and asked Varoufakis: “Can you be serious?” Enduring Criticism Within the book, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for a deal demanding intricate and delicate handling.” Tsipras further wrote how his confrontational style left him increasingly isolated among peers, endangered the country, while assisted hawks who were pushing for Grexit. The retelling of history has been met with fury and shock among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.