Former Prime Minister Alexis Tsipras Asserts Yanis Varoufakis Was ‘Unsuitable’ as Greek Finance Minister Amid Financial Meltdown
In a freshly published memoir, called Ithaki, the former prime minister Tsipras does not hold back while he reflects on that chaotic period of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, Tsipras chose the maverick academic Varoufakis to be the finance minister mainly because of the latter's global profile along with his very persuasive skills when it came to communicator.
“In reality, he was, in reality, more of a star rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis possessed his own agenda that included promoting Varoufakis's books and testing out his own game theories using Greece rather than genuinely fighting for the country's economic stability.
He noted how those discussions to avoid insolvency were “not just a method to secure a better deal for Greece. They became an experiment, an historic opportunity to prove the truth of his ideas.”
High-Stakes Talks
During volatile negotiations, the country came perilously on the brink of leaving the eurozone.
On the line was both the country's future but also those harsh austerity measures demanded in exchange for rescue loans from international creditors.
Unsuccessful Options
Attempts to find financing from other sources, such as a desperate plea to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country would be equivalent to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those harsh bailout terms were put to a popular referendum, an action which plunged Europe into a further crisis of identity.
Although the vote was carried resoundingly by those who opposed austerity, Tsipras was forced but to reject its outcome and agree to a rescue deal from creditors which proved to be tougher.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the man who attracted media attention, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included creating a parallel currency and distributing vouchers to retirees, Tsipras knew that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for a deal demanding complex and sensitive management.”
Tsipras further claimed that his confrontational approach made him increasingly isolated with colleagues, endangered the country, while helped hardliners who were advocating Grexit.
This account of events has been met with anger along with shock among certain groups, while the former minister has maintained a deafening silence regarding these claims.