Former Prime Minister Tsipras States Varoufakis Was ‘Unfit’ for the role of Greek Treasury Chief During Debt Crisis
Within his freshly published memoir, titled Ithaki, the former prime minister Alexis Tsipras pulls no punches as he reflects on the turbulent period of Greece's debt drama.
An Unconventional Appointment
According to Tsipras's recollections, he appointed that maverick economist Yanis Varoufakis to be the finance minister largely due to the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to public orator.
“In reality, he was, actually, more of a star rather than an economist,” wrote Tsipras.
Clashing Agendas
Tsipras claims how his finance chief possessed his own motives that involved advancing Varoufakis's publications and experimenting with his own theories using Greece instead of truly fighting for the country's economic stability.
Tsipras noted how the negotiations to prevent bankruptcy became “not just a way to secure improved terms for the country. They became a test, a monumental chance to demonstrate the validity of his ideas.”
High-Stakes Talks
Amid volatile negotiations, Greece found itself perilously on the brink of exiting the eurozone.
At stake was both Greece's future but also those punishing austerity measures required in exchange for financial aid from foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, the punitive conditions were put to a public vote, an action which threw Europe into further crisis of identity.
Even though the vote was carried resoundingly by voters against the cuts, the prime minister had little option to ignore the result and agree to a bailout package from creditors which proved to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who drew media attention, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy involving creating a parallel currency as well as issuing vouchers to pensioners, Tsipras knew that it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, the author asserts that his former ally demonstrated himself “unfit for an agreement that required complex and sensitive handling.”
Tsipras also claimed that Varoufakis's confrontational style left him more and more alone among peers, endangered the country, and helped hawks that were advocating Grexit.
The retelling of events has provoked anger and shock in some quarters, while Varoufakis has maintained a deafening silence on the matter.
