Former Prime Minister Alexis Tsipras Asserts Yanis Varoufakis Was ‘Unfit’ as Greece's Finance Minister During Financial Meltdown
Within his recently unveiled autobiography, named Ithaki, the former premier Alexis Tsipras pulls no punches as he reflects on that chaotic era of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras appointed the maverick economist Varoufakis as the treasury head mainly due to his international reputation along with Varoufakis's very persuasive abilities as a public orator.
“He was, truthfully, more like a star and less of an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras suggests how his finance chief had his own motives which included advancing Varoufakis's publications and testing out his own economic models on the nation rather than truly advocating its economic stability.
Tsipras wrote that those discussions to prevent bankruptcy became “not just a method to secure a better deal for Greece. They were an experiment, an historic chance to prove the truth of his ideas.”
Critical Negotiations
During tense discussions, the country found itself perilously close to leaving the eurozone.
At stake lay both Greece's destiny and the harsh cutbacks required in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, such as a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum and Reversal
That summer, the harsh conditions were put to a public vote, a move that plunged Europe into a deeper crisis of identity.
Even though the referendum was won resoundingly by those who opposed austerity, Tsipras was forced but to ignore the result then agree to a bailout package with foreign lenders that proved to be even harsher.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
After the minister proposed a backup strategy involving establishing a parallel currency and distributing coupons to pensioners, the leader said he realised that it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras concludes how his former ally had proved himself to be “unfit for a deal demanding complex and delicate handling.”
He also claimed that Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were pushing for Grexit.
The retelling of history has been met with fury along with stunned disbelief among certain groups, while the former minister has kept a deafening silence regarding these claims.
