Former Prime Minister Tsipras Asserts Varoufakis Was ‘Unfit’ as Greece's Treasury Chief Amid Financial Meltdown
Within his newly released personal account, named Ithaki, the former leader Tsipras spares no criticism while he reflects on the chaotic era during Greece's financial crisis.
An Unconventional Choice
In Tsipras's version, Tsipras appointed the maverick academic Yanis Varoufakis as his finance minister mainly due to the latter's worldwide fame along with Varoufakis's very persuasive abilities as a speaker.
“He was, in reality, more of a personality rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras alleges how his finance chief possessed his own agenda which included advancing his publications as well as experimenting with his own theories on the nation instead of genuinely fighting for the country's financial survival.
Tsipras noted that the negotiations to avoid bankruptcy were “not just a method of achieving improved terms for Greece. They were a test, a monumental opportunity to prove the validity of Varoufakis's theories.”
Critical Negotiations
During rollercoaster discussions, the country came perilously close to leaving the single currency area.
On the line was both Greece's destiny but also those harsh cutbacks required in exchange for rescue loans by foreign lenders.
Failed Alternatives
Attempts to secure financing elsewhere, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the harsh conditions were put to a popular referendum, a move which threw Europe into a further existential crisis.
Even though the referendum was won resoundingly by voters against the cuts, the prime minister was forced to ignore the result then negotiate a bailout package from creditors which proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted media attention, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan involving establishing a parallel currency and distributing vouchers to pensioners, the leader knew it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the book, the author concludes how his former ally demonstrated himself to be “unsuitable for a deal demanding intricate and delicate management.”
Tsipras further claimed how his aggressive style left him more and more alone among peers, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
The account of events has been met with fury along with stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence on the matter.
