Former Prime Minister Alexis Tsipras Claims Yanis Varoufakis Was ‘Unsuitable’ for the role of Greece's Treasury Chief Amid Debt Crisis
Within his newly released autobiography, named Ithaki, the ex- premier Tsipras pulls no punches while he examines that chaotic era during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's version, Tsipras appointed the maverick economist Yanis Varoufakis as the treasury head mainly due to the latter's international reputation and his highly compelling abilities when it came to communicator.
“In reality, he was, in reality, more like a star and less of an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras suggests how his finance chief had his own motives that included advancing his publications as well as testing out his theories using Greece instead of genuinely fighting for its financial survival.
He wrote that the discussions to avoid bankruptcy were “not just a way of achieving improved terms for the country. They were a test, a monumental opportunity to prove the validity of his economic theories.”
High-Stakes Talks
During tense discussions, Greece came dangerously on the brink of leaving the eurozone.
On the line lay not only the country's destiny but also those punishing austerity measures demanded in return for rescue loans by foreign lenders.
Failed Options
Efforts to secure funds elsewhere, including a desperate plea to Russia to buy Greek bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were put to a public vote, an action which threw Europe into a deeper crisis of identity.
Even though the vote was carried resoundingly by voters against austerity, Tsipras was forced to reject its outcome then negotiate a rescue deal with foreign lenders which turned out to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who graced the front pages of magazines globally … it seemed he relished his new role.”
When the minister outlined a contingency plan involving creating a secondary currency and issuing coupons to pensioners, Tsipras knew it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras further wrote how his aggressive approach made him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were pushing for Grexit.
This account of history has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has kept a deafening silence on the matter.