Ex-PM Alexis Tsipras Claims Yanis Varoufakis Proved ‘Unsuitable’ for the role of Greek Treasury Chief Amid Debt Crisis
Within his newly released personal account, called Ithaki, the ex- leader Alexis Tsipras spares no criticism as he revisits that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's account, he selected the maverick academic Varoufakis to be his treasury head primarily because of the latter's worldwide fame and Varoufakis's “extremely attractive” skills as a public orator.
“In reality, he was, actually, more of a personality rather than an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras alleges that Varoufakis had his own agenda that involved promoting his publications and experimenting with his own game theories on the nation rather than truly fighting for the country's financial survival.
Tsipras explained that those negotiations to stave off insolvency were “not only a way to secure a better deal for Greece. They were a test, a monumental opportunity to prove the validity of Varoufakis's theories.”
High-Stakes Talks
During volatile negotiations, Greece found itself dangerously close to exiting the eurozone.
At stake was not only the country's destiny but also those harsh austerity policies required in exchange for rescue loans by foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, such as a desperate appeal to Russia to buy Greek bonds, went unanswered.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the excoriating conditions were subjected to a public vote, a move that threw Europe into deeper existential crisis.
Even though the vote was carried resoundingly by voters against the cuts, Tsipras was forced to ignore the result and negotiate a bailout package from creditors which turned out to be even harsher.
Breaking Point
Tsipras revealed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the figure who attracted publicity, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency as well as distributing vouchers to pensioners, the leader said he realised it was game over questioning him: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras asserts that Varoufakis had proved himself to be “unfit for an agreement that required complex and sensitive management.”
Tsipras further wrote that Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, and helped hawks that were pushing for Grexit.
The account of events has been met with fury and shock in some quarters, whereas Varoufakis has maintained a deafening silence regarding these claims.
