🔗 Share this article Former Prime Minister Tsipras States Varoufakis Proved ‘Inappropriate’ as Greece's Treasury Chief Amid Debt Crisis In a recently unveiled memoir, called Ithaki, the ex- leader Tsipras spares no criticism as he revisits that turbulent era during Greece's financial crisis. An Unconventional Choice As per Tsipras's recollections, Tsipras selected that maverick academic Yanis Varoufakis as his finance minister mainly because of his worldwide fame and Varoufakis's very persuasive skills when it came to public orator. “He was, truthfully, more like a personality and less of an economist,” stated Tsipras. Clashing Priorities Tsipras suggests that his finance chief possessed his own agenda which involved advancing Varoufakis's books as well as testing out his own economic models using the nation rather than genuinely advocating its economic stability. He explained how the discussions to avoid bankruptcy became “not just a method to secure a better deal for the country. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's theories.” High-Stakes Negotiations Amid tense negotiations, the country found itself dangerously on the brink of exiting the single currency area. At stake lay not only the country's future and those severe cutbacks required in return for rescue loans by foreign lenders. Unsuccessful Options Efforts to secure funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground. Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow. Public Vote Followed by U-Turn In July 2015, the harsh conditions were subjected to a popular referendum, an action which threw the EU into a further crisis of identity. Although the referendum was won resoundingly by those who opposed austerity, Tsipras had little option to ignore the result and negotiate a bailout package from foreign lenders that turned out to be even harsher. Breaking Point Tsipras claimed how he started questioning his finance minister quite early on. “He was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.” When the minister proposed a contingency plan involving creating a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Are you serious?” Enduring Criticism In the book, the author concludes that Varoufakis demonstrated himself “unfit for a deal demanding intricate and sensitive handling.” Tsipras also wrote how his aggressive style left him more and more alone with colleagues, endangered the country, while assisted hawks who were pushing for a Greek exit from the euro. The account of events has provoked anger and stunned disbelief in some quarters, while Varoufakis has kept a deafening silence regarding these claims.