🔗 Share this article Ex-PM Alexis Tsipras States Varoufakis Was ‘Unfit’ as Greece's Treasury Chief During Debt Crisis In a freshly published autobiography, titled Ithaki, the ex- premier Tsipras pulls no punches as he examines the turbulent era during Greece's financial crisis. An Unconventional Appointment As per the ex-PM's recollections, he chose that unorthodox economist Varoufakis to be the finance minister mainly because of the latter's international reputation along with Varoufakis's highly compelling abilities when it came to speaker. “He was, truthfully, more of a star and less of an economist,” wrote the 51-year-old. Clashing Agendas The former leader alleges how his finance chief possessed his own agenda that involved promoting Varoufakis's publications as well as experimenting with his economic models using Greece rather than truly fighting for the country's financial survival. Tsipras explained that those negotiations to prevent insolvency became “not only a method to secure improved terms for the country. They became an experiment, an historic chance to demonstrate the validity of his economic theories.” Critical Negotiations Amid tense negotiations, the country found itself perilously on the brink of leaving the eurozone. At stake was not only the country's future and those severe austerity measures demanded in return for bailout funds by international creditors. Failed Options Efforts to secure funds from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, went unanswered. Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow. Public Vote Followed by U-Turn In July 2015, those punitive conditions were put to a popular referendum, an action which plunged the EU into a further existential crisis. Even though the referendum was carried decisively by those against austerity, the prime minister was forced but to ignore the result then agree to a rescue deal with creditors that proved to be even harsher. Final Straw The ex-PM claimed how he started questioning his finance minister relatively soon. “Varoufakis was the face of negotiation, the figure who drew media attention, who graced the covers of magazines globally … it seemed he relished the spotlight.” When the minister outlined a backup strategy involving creating a parallel currency and distributing coupons to retirees, Tsipras said he realised it was game over and asked him: “Can you be serious?” Lasting Criticism In the book, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive management.” Tsipras further wrote that Varoufakis's aggressive style left him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were pushing for Grexit. This retelling of history has provoked fury along with stunned disbelief in some quarters, whereas the former minister has kept a deafening silence on the matter.