Former Prime Minister Tsipras Asserts Varoufakis Was ‘Unfit’ as Greek Treasury Chief During Debt Crisis
In a recently unveiled memoir, titled Ithaki, the ex- leader Tsipras does not hold back as he reflects on the turbulent era of Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's account, he appointed the maverick economist Yanis Varoufakis to be the finance minister primarily due to his worldwide fame along with his highly compelling abilities when it came to speaker.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras suggests how Varoufakis possessed a personal motives that included promoting his books and testing out his own game theories using Greece instead of genuinely advocating the country's economic stability.
He wrote that the discussions to stave off insolvency were “not just a method of achieving a better deal for Greece. They were a test, an historic opportunity to prove the validity of his theories.”
Critical Talks
During rollercoaster negotiations, the country came dangerously close to leaving the eurozone.
On the line lay both the country's destiny and the severe austerity policies required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, including a desperate plea to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, those punitive bailout terms were put to a public vote, a move which threw Europe into further crisis of identity.
Even though the vote was carried resoundingly by those against austerity, Tsipras had little option to ignore the result then negotiate a rescue deal from creditors which proved to be even harsher.
Breaking Point
Tsipras revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency as well as issuing vouchers to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes that his former ally demonstrated himself “unsuitable for an agreement that required intricate and delicate management.”
He also claimed how his confrontational style left him more and more alone with colleagues, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This account of history has provoked fury along with stunned disbelief among certain groups, whereas the former minister has kept a deafening silence regarding these claims.