Former Prime Minister Tsipras Claims Yanis Varoufakis Proved ‘Unfit’ for the role of Greek Treasury Chief During Debt Crisis
Within his recently unveiled autobiography, named Ithaki, the ex- premier Tsipras pulls no punches while he revisits the turbulent era during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's recollections, he chose that maverick academic Varoufakis as the treasury head primarily because of his worldwide fame along with his “extremely attractive” skills when it came to speaker.
“He was, in reality, more of a star and less of an economist,” stated the 51-year-old.
Clashing Priorities
The former leader claims how Varoufakis had his own motives which included promoting Varoufakis's publications as well as testing out his own economic models on Greece instead of truly advocating the country's economic stability.
Tsipras noted that those discussions to prevent insolvency were “not only a way to secure a better deal for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
Amid volatile negotiations, the country found itself dangerously close to leaving the eurozone.
At stake lay both the country's destiny but also the severe cutbacks demanded in return for financial aid from foreign lenders.
Failed Options
Attempts to secure funds elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the punitive conditions were subjected to a popular referendum, a move that threw Europe into a deeper crisis of identity.
Even though the referendum was won resoundingly by voters who opposed austerity, the prime minister had little option but to reject its outcome and agree to a bailout package with creditors which proved to be tougher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the figure who attracted publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When the minister outlined a contingency plan involving creating a secondary currency as well as issuing vouchers to retirees, the leader knew it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras asserts how his former ally demonstrated himself to be “unfit for an agreement demanding intricate and sensitive management.”
He further wrote how his confrontational style made him increasingly isolated among peers, put Greece at risk, while helped hardliners that were advocating a Greek exit from the euro.
This account of history has provoked fury and stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.