🔗 Share this article Former Prime Minister Tsipras States Yanis Varoufakis Proved ‘Unfit’ as Greece's Treasury Chief During Debt Crisis Within his freshly published personal account, titled Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he reflects on that turbulent era during Greece's financial crisis. An Unconventional Appointment In the ex-PM's version, Tsipras chose the maverick academic Yanis Varoufakis as his finance minister mainly due to his global profile and his highly compelling abilities as a public orator. “In reality, he was, actually, more of a personality rather than an economic expert,” stated the 51-year-old. Clashing Agendas The former leader alleges how Varoufakis had a personal agenda that involved promoting his publications as well as testing out his theories using Greece rather than genuinely advocating its economic stability. He wrote how the discussions to prevent bankruptcy were “not just a way of achieving improved terms for Greece. They were a test, an historic opportunity to demonstrate the truth of his ideas.” Critical Talks Amid volatile negotiations, the country came perilously close to exiting the single currency area. On the line lay both the country's destiny and those harsh austerity policies required in exchange for rescue loans from international creditors. Unsuccessful Alternatives Efforts to secure financing from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected. Helping Greece was equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting. Public Vote Followed by U-Turn That summer, the excoriating conditions were subjected to a public vote, a move that threw the EU into a deeper existential crisis. Although the referendum was won decisively by voters who opposed the cuts, the prime minister had little option but to reject its outcome then negotiate a rescue deal with foreign lenders which turned out to be tougher. Final Straw The ex-PM claimed that he started questioning his finance minister relatively soon. “He was the face of negotiation, the man who attracted media attention, who graced the front pages of publications globally … it seemed he relished his new role.” When Varoufakis outlined a contingency plan that included creating a secondary currency and distributing coupons to retirees, Tsipras said he realised that it was the end and asked him: “Are you serious?” Lasting Rebuke In the book, Tsipras asserts that his former ally demonstrated himself to be “unfit for an agreement that required intricate and sensitive management.” Tsipras also wrote how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while helped hawks that were advocating Grexit. This retelling of events has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has kept a deafening silence on the matter.