Former Prime Minister Alexis Tsipras Asserts Yanis Varoufakis Was ‘Unfit’ for the role of Greek Finance Minister Amid Financial Meltdown

In a freshly published personal account, named Ithaki, the former leader Alexis Tsipras spares no criticism while he reflects on the chaotic era during Greece's economic turmoil.

A Controversial Appointment

As per Tsipras's account, he appointed the unorthodox economist Yanis Varoufakis to be the finance minister largely due to the latter's global profile along with his very persuasive abilities when it came to public orator.

“He was, actually, more of a star and less of an economic expert,” recalled the 51-year-old.

Conflicting Priorities

Tsipras alleges that Varoufakis had a personal agenda which included advancing Varoufakis's publications and testing out his own game theories using the nation instead of truly fighting for its financial survival.

He noted that those negotiations to stave off bankruptcy were “not just a way of achieving a better deal for Greece. They were an experiment, an historic chance to prove the validity of his economic theories.”

Critical Negotiations

During rollercoaster negotiations, Greece came perilously on the brink of exiting the eurozone.

On the line lay both the country's destiny but also those punishing cutbacks demanded in return for financial aid from foreign lenders.

Failed Options

Attempts to secure funds from other sources, including an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.

Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.

Referendum Followed by U-Turn

In July 2015, those harsh conditions were put to a public vote, a move which plunged Europe into further crisis of identity.

Although the vote was carried resoundingly by voters who opposed the cuts, Tsipras was forced but to ignore the result then agree to a bailout package with creditors that turned out to be tougher.

Breaking Point

Tsipras claimed that he began to doubt Varoufakis relatively soon.

“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the covers of publications globally … it seemed he was enjoying his new role.”

After Varoufakis proposed a contingency plan involving establishing a parallel currency and distributing coupons to pensioners, Tsipras knew that it was the end and asked him: “Can you be serious?”

Lasting Criticism

In the memoir, the author concludes that his former ally had proved himself to be “unfit for an agreement that required complex and sensitive management.”

Tsipras further claimed that Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.

The account of history has provoked anger and shock among certain groups, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.

Scott Gonzalez
Scott Gonzalez

A seasoned media strategist with over 15 years in digital journalism and content creation across UK platforms.