Ex-PM Tsipras Asserts Yanis Varoufakis Was ‘Inappropriate’ for the role of Greece's Finance Minister Amid Financial Meltdown
Within his freshly published personal account, called Ithaki, the ex- premier Tsipras spares no criticism while he revisits the turbulent period of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's account, Tsipras selected the maverick economist Varoufakis as the finance minister largely due to the latter's worldwide fame and Varoufakis's “extremely attractive” abilities as a communicator.
“He was, in reality, more of a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how his finance chief possessed his own motives which included advancing his books as well as testing out his economic models using the nation instead of genuinely fighting for the country's financial survival.
He noted that the talks to prevent bankruptcy were “not just a method to secure improved terms for the country. They were a test, an historic opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
During volatile discussions, the country came perilously close to leaving the single currency area.
On the line lay not only Greece's destiny and those harsh cutbacks required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the harsh conditions were put to a popular referendum, a move that threw the EU into deeper crisis of identity.
Although the vote was won resoundingly by voters against the cuts, the prime minister was forced but to ignore the result and agree to a rescue deal from foreign lenders that turned out to be more severe.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the man who attracted media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a parallel currency and distributing vouchers to retirees, the leader said he realised that it was game over and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras asserts that Varoufakis demonstrated himself “unfit for an agreement that required intricate and delicate management.”
He also wrote how his confrontational approach made him more and more alone among peers, put Greece at risk, and assisted hawks who were advocating Grexit.
The retelling of history has been met with fury along with stunned disbelief in some quarters, while Varoufakis has kept a deafening silence on the matter.