Ex-PM Tsipras Claims Varoufakis Was ‘Unfit’ for the role of Greece's Treasury Chief During Debt Crisis
Within his freshly published autobiography, titled Ithaki, the former premier Tsipras does not hold back as he reflects on the turbulent period during Greece's economic turmoil.
A Controversial Choice
As per Tsipras's account, he appointed the maverick academic Yanis Varoufakis as the finance minister mainly due to his worldwide fame and Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, actually, more like a personality and less of an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader claims how his finance chief possessed a personal motives that included advancing Varoufakis's books and testing out his own game theories on Greece instead of truly fighting for the country's financial survival.
He noted that the talks to stave off bankruptcy became “not only a method to secure a better deal for the country. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
Amid volatile negotiations, the country came perilously on the brink of leaving the single currency area.
On the line was both the country's destiny and the punishing cutbacks required in exchange for rescue loans from foreign lenders.
Failed Options
Attempts to find funds from other sources, such as a desperate plea to Russia to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, a move which threw Europe into a deeper crisis of identity.
Even though the vote was won decisively by voters who opposed austerity, Tsipras had little option to reject its outcome and negotiate a rescue deal from foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who attracted publicity, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”
When the minister proposed a backup strategy involving establishing a secondary currency and issuing coupons to retirees, Tsipras said he realised that it was the end questioning him: “Can you be serious?”
Enduring Rebuke
In the book, the author asserts that Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and delicate management.”
He also wrote how his confrontational approach left him more and more alone among peers, endangered the country, and helped hawks who were advocating Grexit.
This account of history has been met with anger along with shock in some quarters, while the former minister has so far kept a deafening silence regarding these claims.