🔗 Share this article Former Prime Minister Tsipras Claims Varoufakis Was ‘Inappropriate’ as Greece's Treasury Chief During Financial Meltdown Within his recently unveiled autobiography, titled Ithaki, the ex- leader Tsipras does not hold back as he revisits that chaotic period of Greece's economic turmoil. A Controversial Choice In the ex-PM's version, he selected the unorthodox academic Varoufakis as his treasury head mainly due to his international reputation and his “extremely attractive” skills as a speaker. “In reality, he was, truthfully, more like a star rather than an economic expert,” recalled Tsipras. Clashing Priorities The former leader alleges that Varoufakis possessed his own agenda that involved promoting his publications as well as experimenting with his theories on Greece rather than truly fighting for its financial survival. He noted how the discussions to stave off insolvency became “not only a way of achieving improved terms for the country. They were an experiment, an historic chance to demonstrate the truth of his economic theories.” Critical Negotiations Amid volatile negotiations, the country found itself dangerously on the brink of leaving the single currency area. At stake was both Greece's future and those harsh austerity measures demanded in return for rescue loans by international creditors. Failed Options Efforts to secure funds from other sources, such as a desperate appeal to Russia to buy Greek government bonds, fell on stony ground. Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow. Referendum Followed by U-Turn That summer, the punitive conditions were put to a public vote, an action that threw Europe into deeper existential crisis. Even though the referendum was carried decisively by those against the cuts, the prime minister was forced but to ignore the result then agree to a rescue deal from creditors which turned out to be tougher. Breaking Point The ex-PM claimed that he began to doubt Varoufakis quite early on. “He was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.” When Varoufakis proposed a backup strategy involving creating a secondary currency as well as issuing coupons to pensioners, the leader knew that it was game over and asked Varoufakis: “Can you be serious?” Lasting Rebuke In the memoir, Tsipras concludes how his former ally demonstrated himself to be “unsuitable for a deal that required intricate and delicate handling.” Tsipras also claimed how his confrontational style left him more and more alone among peers, endangered the country, and assisted hawks that were advocating Grexit. This retelling of events has been met with anger along with shock in some quarters, while Varoufakis has so far kept a conspicuous quiet on the matter.