Ex-PM Tsipras States Varoufakis Proved ‘Inappropriate’ as Greek Finance Minister Amid Financial Meltdown

Within his recently unveiled personal account, called Ithaki, the former leader Tsipras does not hold back as he reflects on that chaotic period during Greece's debt drama.

A Controversial Appointment

In Tsipras's account, Tsipras appointed the unorthodox academic Varoufakis as his finance minister largely due to his global profile and his highly compelling abilities when it came to public orator.

“He was, truthfully, more of a star and less of an economist,” stated Tsipras.

Conflicting Agendas

The former leader alleges that Varoufakis had his own motives which involved promoting Varoufakis's publications as well as testing out his own economic models on Greece instead of truly advocating the country's economic stability.

Tsipras noted that those talks to avoid bankruptcy became “not just a method to secure a better deal for Greece. They were an experiment, a monumental opportunity to prove the validity of his theories.”

Critical Negotiations

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

At stake lay both the country's destiny but also those punishing austerity policies required in exchange for bailout funds from international creditors.

Failed Options

Efforts to secure funds from other sources, including a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.

Helping the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.

Referendum and U-Turn

That summer, those punitive conditions were put to a popular referendum, an action that plunged Europe into further crisis of identity.

Even though the vote was carried resoundingly by voters who opposed austerity, Tsipras was forced to reject its outcome then agree to a bailout package with creditors which proved to be more severe.

Final Straw

The ex-PM claimed how he began to doubt his finance minister relatively soon.

“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”

When Varoufakis outlined a contingency plan involving establishing a parallel currency as well as distributing vouchers to retirees, Tsipras said he realised that it was the end questioning him: “Are you serious?”

Enduring Rebuke

In the memoir, Tsipras asserts that his former ally had proved himself “unfit for a deal that required intricate and sensitive management.”

He further wrote how his confrontational style left him increasingly isolated among peers, endangered the country, while helped hawks that were pushing for Grexit.

This account of history has provoked anger and shock among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.

Jesus Green
Jesus Green

A seasoned collector and market analyst with over a decade of experience in trading card investments and rare finds.