Former Prime Minister Tsipras Claims Yanis Varoufakis Was ‘Unfit’ as Greece's Finance Minister During Debt Crisis
In a freshly published personal account, called Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he revisits the turbulent period of Greece's debt drama.
A Controversial Choice
In the ex-PM's account, he chose the unorthodox economist Varoufakis to be the treasury head primarily due to his worldwide fame and his highly compelling abilities when it came to public orator.
“He was, actually, more like a personality and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges how Varoufakis had a personal agenda that involved advancing his publications as well as experimenting with his economic models using the nation rather than truly advocating its economic stability.
Tsipras explained how the negotiations to avoid bankruptcy were “not just a method to secure improved terms for Greece. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
During volatile negotiations, Greece found itself perilously close to exiting the eurozone.
At stake was both the country's future and the harsh cutbacks required in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and Reversal
That summer, those punitive conditions were subjected to a public vote, a move that threw Europe into a deeper crisis of identity.
Even though the referendum was carried resoundingly by those who opposed the cuts, Tsipras had little option to reject its outcome then agree to a bailout package with foreign lenders which proved to be tougher.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who drew publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, Tsipras knew that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author asserts how his former ally demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive management.”
Tsipras further claimed that Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
The account of events has provoked fury and shock in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
