Former Prime Minister Alexis Tsipras Claims Yanis Varoufakis Proved ‘Unsuitable’ as Greece's Finance Minister During Financial Meltdown
Within his newly released personal account, called Ithaki, the ex- leader Tsipras does not hold back while he revisits the chaotic period during Greece's economic turmoil.
A Controversial Choice
As per Tsipras's account, he selected that unorthodox economist Varoufakis as his treasury head primarily due to his international reputation and Varoufakis's highly compelling skills as a speaker.
“In reality, he was, actually, more like a celebrity and less of an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras claims that Varoufakis possessed his own motives which included promoting his publications and testing out his theories using the nation instead of truly fighting for its economic stability.
Tsipras noted how the negotiations to prevent bankruptcy were “not just a way to secure a better deal for the country. They were an experiment, a monumental opportunity to prove the validity of his ideas.”
Critical Talks
During tense discussions, the country came dangerously on the brink of exiting the eurozone.
On the line lay both Greece's destiny and the punishing austerity measures demanded in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, including a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, the harsh bailout terms were subjected to a popular referendum, an action that threw the EU into a deeper existential crisis.
Although the referendum was won decisively by voters who opposed the cuts, the prime minister was forced to ignore the result then agree to a rescue deal with foreign lenders which proved to be tougher.
Final Straw
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“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 relished the spotlight.”
After the minister proposed a backup strategy that included establishing a secondary currency and distributing coupons to retirees, Tsipras said he realised that it was game over questioning him: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts how Varoufakis had proved himself “unfit for an agreement demanding intricate and sensitive handling.”
He also claimed that his confrontational approach left him more and more alone among peers, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
This account of events has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.