Former Prime Minister Alexis Tsipras Claims Varoufakis Proved ‘Inappropriate’ as Greece's Treasury Chief Amid Financial Meltdown
In a freshly published personal account, named Ithaki, the ex- premier Tsipras pulls no punches as he examines the turbulent period during Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's version, Tsipras chose that maverick academic Yanis Varoufakis to be his finance minister primarily due to the latter's worldwide fame along with his highly compelling skills as a speaker.
“He was, in reality, more of a celebrity and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief possessed a personal agenda which included advancing his books and experimenting with his own economic models using the nation rather than truly advocating its economic stability.
Tsipras wrote how the talks to stave off insolvency became “not only a method of achieving improved terms for the country. They became a test, an historic opportunity to demonstrate the validity of his economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, Greece found itself perilously close to leaving the eurozone.
On the line was both Greece's future and the severe cutbacks demanded in return for financial aid by international creditors.
Failed Options
Efforts to secure financing elsewhere, including an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, an action that plunged the EU into deeper crisis of identity.
Even though the vote was carried resoundingly by those against the cuts, Tsipras had little option to reject its outcome and negotiate a bailout package from creditors which proved to be more severe.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who attracted media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”
After the minister outlined a contingency plan that included establishing a parallel currency and distributing vouchers to retirees, Tsipras said he realised it was the end questioning him: “Can you be serious?”
Lasting Criticism
Within the memoir, the author asserts how Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and delicate management.”
Tsipras also wrote how Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were advocating Grexit.
This account of events has been met with fury and stunned disbelief in some quarters, while the former minister has kept a deafening silence on the matter.