Ex-PM Alexis Tsipras Asserts Varoufakis Proved ‘Unfit’ as Greece's Treasury Chief During Financial Meltdown
Within his recently unveiled autobiography, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism as he examines that chaotic period during Greece's financial crisis.
A Controversial Choice
In the ex-PM's recollections, Tsipras appointed the unorthodox economist Varoufakis to be the finance minister primarily because of his international reputation along with his “extremely attractive” abilities when it came to speaker.
“He was, truthfully, more like a personality and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras suggests how Varoufakis possessed a personal agenda that included advancing his books and experimenting with his own game theories using the nation instead of truly fighting for the country's financial survival.
He wrote how the talks to avoid bankruptcy were “not only a method to secure improved terms for the country. They were a test, a monumental opportunity to prove the validity of his economic theories.”
High-Stakes Negotiations
During rollercoaster negotiations, Greece came dangerously on the brink of leaving the eurozone.
On the line lay both Greece's destiny but also the severe austerity policies required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, such as a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, the punitive bailout terms were put to a popular referendum, a move which plunged Europe into a further existential crisis.
Although the referendum was carried decisively by voters who opposed the cuts, the prime minister was forced to ignore the result and negotiate a rescue deal with creditors that turned out to be tougher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan involving creating a secondary currency as well as issuing coupons to pensioners, the leader said he realised that it was game over questioning him: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how Varoufakis had proved himself “unsuitable for an agreement that required complex and sensitive handling.”
He also wrote how his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were pushing for Grexit.
This retelling of events has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.