Former Prime Minister Tsipras States Varoufakis Proved ‘Unfit’ as Greece's Finance Minister During Financial Meltdown
Within his freshly published memoir, titled Ithaki, the former leader Alexis Tsipras pulls no punches as he revisits the turbulent era during Greece's debt drama.
A Controversial Appointment
In Tsipras's version, he selected that maverick academic Yanis Varoufakis as the finance minister largely due to the latter's global profile along with his very persuasive skills when it came to communicator.
“He was, truthfully, more of a celebrity rather than an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras alleges that his finance chief had his own agenda which included promoting Varoufakis's books and testing out his own game theories on the nation rather than genuinely fighting for its financial survival.
He wrote how those talks to avoid bankruptcy were “not just a method to secure improved terms for Greece. They were an experiment, an historic chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece found itself perilously on the brink of exiting the single currency area.
On the line was not only the country's future but also those harsh austerity policies demanded in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, such as a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those harsh conditions were put to a popular referendum, an action which threw the EU into a further crisis of identity.
Although the referendum was carried decisively by voters against austerity, the prime minister was forced but to ignore the result then negotiate a rescue deal from foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a secondary currency as well as issuing vouchers to retirees, Tsipras knew it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes how his former ally had proved himself “unsuitable for an agreement that required complex and delicate management.”
Tsipras also claimed that his confrontational style made him increasingly isolated among peers, put Greece at risk, while assisted hardliners who were advocating Grexit.
This retelling of history has provoked anger and shock among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.