Former Prime Minister Alexis Tsipras Claims Yanis Varoufakis Was ‘Unfit’ as Greek Treasury Chief During Financial Meltdown
In a freshly published memoir, named Ithaki, the ex- leader Tsipras pulls no punches as he examines that chaotic period of Greece's debt drama.
An Unconventional Appointment
In Tsipras's recollections, he appointed that unorthodox academic Yanis Varoufakis as his treasury head mainly due to his worldwide fame and his “extremely attractive” abilities as a speaker.
“He was, in reality, more of a personality and less of an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras claims that his finance chief possessed his own motives which included promoting Varoufakis's books and experimenting with his economic models on the nation rather than genuinely advocating the country's economic stability.
He noted that those talks to avoid bankruptcy became “not just a method to secure improved terms for Greece. They were a test, an historic chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid volatile negotiations, the country found itself perilously on the brink of leaving the single currency area.
At stake lay both Greece's destiny but also the harsh austerity policies required in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum and U-Turn
In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action that threw Europe into a further existential crisis.
Although the vote was carried resoundingly by those who opposed the cuts, Tsipras was forced but to ignore the result and negotiate a bailout package with foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who drew media attention, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy involving establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras concludes that Varoufakis demonstrated himself “unsuitable for an agreement demanding complex and sensitive handling.”
He further wrote how Varoufakis's aggressive style made him more and more alone among peers, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
The account of events has been met with anger along with stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
