Ex-PM Alexis Tsipras Claims Varoufakis Proved ‘Inappropriate’ as Greek Finance Minister Amid Financial Meltdown
Within his newly released personal account, titled Ithaki, the ex- prime minister Tsipras does not hold back as he examines the chaotic era during Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's version, he appointed that maverick academic Yanis Varoufakis as the finance minister primarily due to his global profile along with his “extremely attractive” abilities as a communicator.
“In reality, he was, in reality, more like a personality and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests how his finance chief had his own motives which involved advancing his books and testing out his game theories on Greece rather than truly advocating the country's financial survival.
Tsipras explained how those negotiations to prevent insolvency were “not just a method of achieving a better deal for the country. They were a test, an historic chance to demonstrate the validity of his theories.”
High-Stakes Talks
During rollercoaster discussions, the country found itself perilously on the brink of leaving the single currency area.
On the line was both the country's destiny but also the severe austerity policies demanded in exchange for financial aid from foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, such as an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
That summer, those excoriating bailout terms were put to a public vote, a move which threw Europe into a deeper crisis of identity.
Even though the vote was won resoundingly by voters who opposed the cuts, the prime minister was forced but to ignore the result then negotiate a bailout package from foreign lenders which proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister relatively soon.
“He was the face of negotiation, the figure who drew publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency and distributing vouchers to retirees, Tsipras said he realised it was game over questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras asserts how Varoufakis had proved himself to be “unfit for an agreement demanding intricate and sensitive management.”
He further wrote how Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, and assisted hawks who were pushing for Grexit.
The account of history has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.