Former Prime Minister Alexis Tsipras Asserts Varoufakis Was ‘Unfit’ as Greek Finance Minister During Debt Crisis
In a newly released autobiography, named Ithaki, the former premier Alexis Tsipras spares no criticism while he revisits that chaotic era during Greece's debt drama.
A Controversial Choice
According to the ex-PM's version, he selected the maverick economist Yanis Varoufakis to be the finance minister largely because of his global profile and Varoufakis's “extremely attractive” abilities when it came to public orator.
“He was, truthfully, more like a celebrity rather than an economist,” stated Tsipras.
Conflicting Priorities
Tsipras alleges how his finance chief possessed a personal motives which involved promoting Varoufakis's books and experimenting with his own game theories on Greece instead of genuinely fighting for its economic stability.
Tsipras noted that those talks to prevent bankruptcy became “not just a method to secure a better deal for Greece. They were an experiment, an historic chance to prove the validity of his ideas.”
Critical Talks
Amid rollercoaster negotiations, the country found itself dangerously close to exiting the eurozone.
At stake was both the country's future and those punishing austerity policies required in exchange for bailout funds by foreign lenders.
Failed Options
Efforts to find funds from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, those punitive bailout terms were subjected to a public vote, a move which threw Europe into further existential crisis.
Although the referendum was carried decisively by voters against austerity, Tsipras had little option but to ignore the result then negotiate a rescue deal from creditors that turned out to be tougher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who appeared on the covers of publications the world over … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included creating a parallel currency and issuing vouchers to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras concludes that Varoufakis had proved himself “unsuitable for a deal demanding intricate and sensitive handling.”
He also wrote how his confrontational approach made him increasingly isolated with colleagues, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
This account of events has been met with fury along with stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
