🔗 Share this article Ex-PM Tsipras States Varoufakis Proved ‘Inappropriate’ for the role of Greek Treasury Chief Amid Debt Crisis In a newly released memoir, called Ithaki, the former prime minister Alexis Tsipras does not hold back as he examines that turbulent era during Greece's financial crisis. An Unconventional Choice As per Tsipras's account, Tsipras selected the maverick economist Varoufakis to be his treasury head mainly due to the latter's international reputation and his very persuasive abilities when it came to communicator. “He was, actually, more of a celebrity and less of an economist,” wrote the 51-year-old. Clashing Agendas Tsipras suggests that Varoufakis possessed his own agenda that included advancing his books as well as testing out his own theories using the nation rather than truly fighting for the country's economic stability. He wrote how those negotiations to stave off insolvency became “not only a method of achieving a better deal for the country. They became a test, an historic opportunity to demonstrate the validity of his economic theories.” Critical Negotiations During volatile negotiations, Greece found itself dangerously close to exiting the single currency area. On the line was not only the country's future and the severe austerity measures demanded in exchange for bailout funds by international creditors. Unsuccessful Options Efforts to secure financing elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground. Helping Greece was tantamount 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, the punitive bailout terms were subjected to a popular referendum, a move that plunged Europe into a deeper crisis of identity. Although the vote was carried resoundingly by those against austerity, Tsipras was forced but to reject its outcome then agree to a bailout package with foreign lenders that turned out to be more severe. Final Straw The ex-PM claimed how he started questioning Varoufakis relatively soon. “He was the public image of the talks, the figure who attracted media attention, who graced the covers of magazines globally … it seemed he relished his new role.” When Varoufakis outlined a backup strategy involving creating a parallel currency and distributing vouchers to retirees, the leader said he realised it was the end and asked Varoufakis: “Are you serious?” Lasting Criticism In the memoir, the author asserts that his former ally demonstrated himself “unfit for an agreement demanding intricate and delicate management.” He also wrote how Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, while helped hawks who were advocating Grexit. The account of history has provoked fury and stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.