Former Prime Minister Tsipras Asserts Yanis Varoufakis Was ‘Inappropriate’ for the role of Greek Finance Minister During Debt Crisis
In a newly released autobiography, named Ithaki, the ex- leader Alexis Tsipras does not hold back as he revisits the chaotic period during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's version, he selected that maverick economist Yanis Varoufakis as his treasury head largely due to his worldwide fame along with Varoufakis's very persuasive skills as a public orator.
“In reality, he was, truthfully, more like a personality rather than an economist,” stated the 51-year-old.
Clashing Agendas
The former leader claims that Varoufakis possessed a personal agenda that involved promoting his books as well as experimenting with his own game theories on Greece instead of genuinely advocating its financial survival.
Tsipras noted that the negotiations to prevent insolvency became “not only a way to secure a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Negotiations
During rollercoaster discussions, Greece came perilously close to leaving the single currency area.
At stake lay not only Greece's destiny and the punishing austerity measures required in return for financial aid by foreign lenders.
Failed Options
Attempts to secure funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the harsh conditions were subjected to a popular referendum, a move that plunged Europe into deeper existential crisis.
Even though the referendum was won decisively by voters who opposed the cuts, Tsipras was forced to reject its outcome and agree to a bailout package from creditors that proved to be tougher.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew publicity, who appeared on the covers of publications globally … it seemed he was enjoying his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency and issuing coupons to retirees, Tsipras knew that it was game over and asked him: “Are you serious?”
Lasting Criticism
In the book, Tsipras asserts that Varoufakis had proved himself “unsuitable for an agreement that required complex and delicate handling.”
He also claimed that Varoufakis's confrontational approach made him more and more alone with colleagues, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
The retelling of events has provoked anger along with shock among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
