Former Prime Minister Alexis Tsipras Claims Varoufakis Was ‘Unfit’ as Greece's Treasury Chief During Debt Crisis
Within his freshly published memoir, called Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits the turbulent era during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's recollections, he appointed that maverick academic Varoufakis to be the finance minister primarily due to the latter's international reputation and his “extremely attractive” abilities when it came to public orator.
“He was, truthfully, more of a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests how Varoufakis had a personal motives which involved promoting his books and testing out his own theories on the nation instead of genuinely advocating its economic stability.
Tsipras explained that the talks to avoid bankruptcy were “not just a way of achieving improved terms for the country. They became a test, a monumental chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
Amid volatile discussions, the country found itself dangerously close to exiting the single currency area.
On the line lay not only Greece's destiny but also the punishing cutbacks required in return for bailout funds by foreign lenders.
Failed Alternatives
Attempts to find funds elsewhere, such as an urgent appeal to Russia to buy Greek bonds, were rejected.
Assisting Greece would be tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the harsh conditions were put to a popular referendum, a move which plunged the EU into further existential crisis.
Although the vote was carried decisively by voters against the cuts, the prime minister had little option to ignore the result then agree to a bailout package with creditors that proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who attracted media attention, who graced the covers of publications the world over … it seemed he relished his new role.”
When Varoufakis outlined a backup strategy involving creating a parallel currency as well as distributing vouchers to retirees, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author concludes that Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
He further wrote how Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, and helped hawks that were pushing for a Greek exit from the euro.
This retelling of history has provoked anger and shock in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
