🔗 Share this article Ex-PM Tsipras Claims Varoufakis Proved ‘Inappropriate’ as Greece's Treasury Chief Amid Debt Crisis Within his freshly published personal account, named Ithaki, the ex- premier Alexis Tsipras does not hold back as he revisits that chaotic period during Greece's financial crisis. A Controversial Appointment According to the ex-PM's recollections, he selected the maverick academic Yanis Varoufakis to be the finance minister primarily because of his worldwide fame along with his very persuasive abilities when it came to public orator. “In reality, he was, in reality, more of a celebrity and less of an economic expert,” stated Tsipras. Clashing Agendas Tsipras claims how Varoufakis possessed his own motives which included advancing his books and testing out his own economic models using Greece rather than genuinely advocating the country's financial survival. Tsipras wrote how the negotiations to prevent insolvency were “not just a method to secure a better deal for the country. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's ideas.” High-Stakes Negotiations During volatile discussions, the country found itself perilously on the brink of exiting the single currency area. At stake was not only the country's destiny and those punishing cutbacks demanded in return for bailout funds from foreign lenders. Unsuccessful Alternatives Efforts to secure financing elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered. Assisting Greece was equivalent to throwing money into the garbage, Putin reportedly told Tsipras in Moscow. Public Vote Followed by U-Turn That summer, those excoriating conditions were subjected to a popular referendum, an action that threw the EU into a deeper crisis of identity. Even though the vote was carried resoundingly by those who opposed austerity, Tsipras was forced to reject its outcome and agree to a rescue deal from foreign lenders that proved to be more severe. Breaking Point The ex-PM revealed that he started questioning Varoufakis relatively soon. “He was the public image of negotiation, the man who drew media attention, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.” After Varoufakis outlined a backup strategy involving creating a parallel currency and distributing coupons to retirees, the leader knew it was the end and asked him: “Can you be serious?” Lasting Criticism In the memoir, the author asserts how Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and delicate handling.” Tsipras also wrote how Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, while helped hardliners who were advocating a Greek exit from the euro. This account of history has been met with fury and shock among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.