Former Prime Minister Tsipras Asserts Yanis Varoufakis Proved ‘Unsuitable’ for the role of Greece's Finance Minister Amid Debt Crisis
Within his freshly published personal account, called Ithaki, the former prime minister Alexis Tsipras pulls no punches as he revisits the chaotic era of Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's recollections, Tsipras appointed the maverick academic Yanis Varoufakis as his treasury head largely because of his worldwide fame along with his highly compelling abilities when it came to communicator.
“In reality, he was, actually, more of a star rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras claims that his finance chief possessed a personal agenda which involved promoting Varoufakis's books as well as experimenting with his own game theories using the nation rather than truly fighting for the country's economic stability.
He explained how those talks to avoid insolvency were “not just a method to secure a better deal for Greece. They became a test, an historic opportunity to prove the truth of his theories.”
High-Stakes Negotiations
Amid tense negotiations, the country found itself perilously on the brink of exiting the eurozone.
On the line was not only Greece's destiny but also those punishing austerity policies demanded in return for rescue loans by international creditors.
Unsuccessful Options
Attempts to find funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum and Reversal
That summer, the punitive bailout terms were subjected to a popular referendum, an action which threw the EU into deeper crisis of identity.
Although the referendum was carried decisively by those against the cuts, Tsipras was forced to reject its outcome and negotiate a bailout package with foreign lenders that proved to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
After the minister outlined a contingency plan that included establishing a parallel currency as well as distributing coupons to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts how Varoufakis demonstrated himself “unfit for a deal demanding complex and sensitive management.”
Tsipras further claimed how his confrontational style left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
This account of events has provoked fury along with shock in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
