Ex-PM Alexis Tsipras States Yanis Varoufakis Proved ‘Unsuitable’ as Greek Treasury Chief During Debt Crisis
In a freshly published autobiography, named Ithaki, the former premier Tsipras does not hold back while he revisits the turbulent period of Greece's debt drama.
A Controversial Appointment
According to the ex-PM's recollections, he chose that unorthodox academic Varoufakis as his finance minister mainly because of the latter's international reputation and Varoufakis's “extremely attractive” abilities as a speaker.
“He was, truthfully, more of a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims how his finance chief possessed his own agenda that included promoting Varoufakis's publications and experimenting with his own game theories on Greece instead of genuinely fighting for its economic stability.
Tsipras explained how the discussions to prevent bankruptcy were “not only a method to secure a better deal for the country. They became a test, an historic opportunity to prove the validity of Varoufakis's economic theories.”
Critical Talks
Amid tense negotiations, the country came perilously on the brink of leaving the eurozone.
At stake lay both Greece's future but also the punishing austerity policies required in return for financial aid from foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, such as an urgent appeal to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote and Reversal
That summer, the excoriating bailout terms were put to a public vote, an action which plunged Europe into a deeper existential crisis.
Although the referendum was carried resoundingly by voters who opposed the cuts, Tsipras had little option but to ignore the result then negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy involving establishing a secondary currency as well as distributing coupons to pensioners, the leader knew it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, the author concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and delicate handling.”
He further claimed how Varoufakis's confrontational style left him more and more alone with colleagues, endangered the country, while helped hawks that were pushing for a Greek exit from the euro.
The retelling of history has been met with anger along with stunned disbelief among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.