Former Prime Minister Tsipras Claims Varoufakis Was ‘Inappropriate’ for the role of Greek Finance Minister During Debt Crisis
Within his newly released personal account, titled Ithaki, the former premier Tsipras pulls no punches as he revisits the chaotic period during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's recollections, Tsipras chose the maverick economist Yanis Varoufakis to be his finance minister mainly because of his global profile along with his very persuasive abilities as a speaker.
“In reality, he was, actually, more like a star rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader suggests that his finance chief had a personal agenda that involved promoting his publications as well as experimenting with his theories using Greece instead of genuinely advocating the country's economic stability.
He noted that those discussions to stave off insolvency became “not just a way of achieving a better deal for Greece. They were an experiment, an historic opportunity to prove the validity of Varoufakis's economic theories.”
Critical Talks
During volatile negotiations, Greece came perilously close to leaving the eurozone.
On the line lay not only the country's future and the harsh austerity measures demanded in exchange for financial aid by international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, the punitive bailout terms were subjected to a popular referendum, an action that plunged the EU into a deeper crisis of identity.
Although the vote was carried resoundingly by voters against the cuts, Tsipras had little option but to reject its outcome and agree to a bailout package from foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who drew media attention, who graced the covers of publications the world over … he gave the impression he relished the spotlight.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency as well as distributing vouchers to pensioners, Tsipras knew that it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras asserts that his former ally had proved himself “unfit for a deal that required intricate and delicate management.”
Tsipras also wrote how his aggressive style made him increasingly isolated among peers, put Greece at risk, and assisted hawks who were pushing for Grexit.
This account of events has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
