Former Prime Minister Alexis Tsipras Asserts Yanis Varoufakis Was ‘Unfit’ for the role of Greek Finance Minister During Debt Crisis
Within his freshly published memoir, named Ithaki, the ex- leader Alexis Tsipras pulls no punches as he revisits that chaotic era of Greece's economic turmoil.
A Controversial Choice
As per Tsipras's account, he selected that maverick academic Yanis Varoufakis as his treasury head largely because of the latter's worldwide fame and Varoufakis's very persuasive skills when it came to public orator.
“He was, actually, more of a personality rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader suggests how Varoufakis had a personal motives that included advancing Varoufakis's publications and experimenting with his game theories on the nation instead of genuinely fighting for its financial survival.
He noted how those negotiations to prevent insolvency were “not only a way to secure a better deal for the country. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Negotiations
During rollercoaster negotiations, Greece came dangerously on the brink of leaving the single currency area.
On the line lay not only Greece's destiny and the severe austerity policies demanded in exchange for financial aid by foreign lenders.
Failed Options
Efforts to secure funds elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those excoriating bailout terms were subjected to a public vote, an action which plunged the EU into further crisis of identity.
Although the referendum was won decisively by those who opposed austerity, the prime minister had little option but to ignore the result then negotiate a rescue deal with creditors that proved to be tougher.
Final Straw
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
After the minister proposed a backup strategy that included creating a secondary currency as well as issuing vouchers to retirees, Tsipras knew it was the end and asked him: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras asserts how Varoufakis had proved himself “unfit for a deal demanding complex and delicate handling.”
He also claimed that his aggressive style made him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
The retelling of events has provoked anger along with shock among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
