Ex-PM Alexis Tsipras States Yanis Varoufakis Proved ‘Unsuitable’ for the role of Greek Finance Minister During Financial Meltdown
Within his freshly published autobiography, called Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he reflects on the chaotic era during Greece's debt drama.
An Unconventional Appointment
In Tsipras's version, he appointed that maverick academic Varoufakis to be the finance minister mainly due to his international reputation and Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, actually, more like a personality and less of an economist,” stated Tsipras.
Clashing Priorities
The former leader claims how Varoufakis possessed a personal motives that included promoting his books as well as experimenting with his game theories on Greece rather than truly fighting for its economic stability.
Tsipras explained that the negotiations to prevent bankruptcy became “not only a method to secure a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of his ideas.”
High-Stakes Talks
During volatile negotiations, Greece found itself perilously on the brink of exiting the eurozone.
At stake was not only Greece's future but also the severe austerity policies required in return for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, including an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote and Reversal
That summer, the punitive bailout terms were put to a public vote, an action which plunged Europe into a deeper crisis of identity.
Although the referendum was won resoundingly by those against the cuts, Tsipras had little option but to reject its outcome then negotiate a bailout package with creditors which proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis proposed a contingency plan involving establishing a parallel currency as well as distributing vouchers to retirees, Tsipras knew it was game over and asked him: “Are you serious?”
Enduring Rebuke
Within the memoir, the author asserts how his former ally had proved himself “unfit for an agreement demanding complex and delicate management.”
He also claimed how his aggressive style left him increasingly isolated among peers, put Greece at risk, and assisted hawks who were pushing for Grexit.
The account of history has provoked fury along with shock in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.