Former Prime Minister Alexis Tsipras Claims Yanis Varoufakis Was ‘Unfit’ for the role of Greek Treasury Chief During Debt Crisis
Within his recently unveiled autobiography, titled Ithaki, the former prime minister Tsipras spares no criticism while he examines the turbulent era during Greece's financial crisis.
An Unconventional Choice
In Tsipras's version, he selected the maverick academic Yanis Varoufakis to be the finance minister mainly due to his international reputation and his highly compelling skills as a public orator.
“In reality, he was, truthfully, more of a star and less of an economist,” stated Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis possessed a personal motives that involved promoting his books and experimenting with his game theories on Greece instead of truly advocating the country's financial survival.
He wrote how the negotiations to stave off bankruptcy 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 ideas.”
High-Stakes Talks
Amid rollercoaster discussions, the country came perilously on the brink of exiting the single currency area.
On the line lay both Greece's future but also the severe cutbacks required in exchange for financial aid from foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, including an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, a move that plunged the EU into deeper crisis of identity.
Although the vote was won resoundingly by those against the cuts, Tsipras was forced to ignore the result and agree to a rescue deal with creditors which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the covers of publications globally … he gave the impression he relished the spotlight.”
After Varoufakis proposed a backup strategy that included creating a secondary currency as well as distributing coupons to retirees, the leader said he realised it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, the author concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate management.”
He also claimed that his aggressive style made him increasingly isolated among peers, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
This retelling of events has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.