🔗 Share this article Former Prime Minister Tsipras Claims Yanis Varoufakis Proved ‘Inappropriate’ as Greek Finance Minister During Debt Crisis In a recently unveiled personal account, titled Ithaki, the ex- prime minister Tsipras does not hold back as he examines that turbulent era during Greece's debt drama. An Unconventional Choice According to Tsipras's version, he appointed that maverick academic Varoufakis as the treasury head mainly due to his worldwide fame and Varoufakis's “extremely attractive” abilities when it came to communicator. “He was, in reality, more like a star and less of an economist,” wrote the 51-year-old. Conflicting Priorities Tsipras claims that Varoufakis had his own motives which involved advancing Varoufakis's publications as well as testing out his own game theories using the nation rather than truly advocating the country's economic stability. He wrote that the negotiations to prevent insolvency became “not just a method of achieving improved terms for the country. They became an experiment, an historic chance to prove the truth of Varoufakis's economic theories.” High-Stakes Negotiations During tense negotiations, Greece found itself dangerously on the brink of leaving the single currency area. At stake was both the country's future but also the harsh austerity policies required in return for bailout funds from international creditors. Failed Options Attempts to find financing from other sources, including a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered. Helping the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow. Public Vote and U-Turn That summer, the harsh conditions were put to a public vote, a move that plunged the EU into a further existential crisis. Although the vote was won decisively by those who opposed austerity, the prime minister had little option to ignore the result then negotiate a rescue deal from foreign lenders that turned out to be even harsher. Breaking Point Tsipras revealed how he started questioning Varoufakis relatively soon. “He was the face of the talks, the man who drew media attention, who graced the covers of publications the world over … he gave the impression he relished his new role.” When the minister proposed a contingency plan involving establishing a parallel currency and distributing coupons to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Can you be serious?” Enduring Criticism In the book, Tsipras concludes how his former ally demonstrated himself “unsuitable for a deal that required complex and delicate handling.” Tsipras also wrote that Varoufakis's confrontational style made him more and more alone among peers, endangered the country, while helped hardliners who were advocating a Greek exit from the euro. The retelling of events has provoked anger along with shock among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.