Ex-PM Tsipras States Varoufakis Was ‘Inappropriate’ as Greek Treasury Chief During Debt Crisis
In a freshly published autobiography, called Ithaki, the ex- premier Tsipras spares no criticism while he examines the turbulent period during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's recollections, he appointed that maverick academic Yanis Varoufakis as his finance minister mainly due to the latter's international reputation along with Varoufakis's very persuasive abilities as a speaker.
“He was, actually, more of a celebrity rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis had his own motives that involved advancing his books as well as experimenting with his own game theories using Greece rather than genuinely fighting for the country's financial survival.
Tsipras noted how those discussions to avoid insolvency were “not only a way to secure a better deal for Greece. They were a test, an historic chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
During volatile discussions, Greece found itself perilously on the brink of leaving the single currency area.
On the line lay both the country's future and those harsh cutbacks demanded in exchange for financial aid from foreign lenders.
Failed Options
Attempts to secure funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the punitive bailout terms were put to a public vote, a move that threw the EU into a deeper crisis of identity.
Although the vote was won resoundingly by those who opposed austerity, the prime minister was forced but to reject its outcome then agree to a rescue deal from foreign lenders that proved to be tougher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy involving creating a parallel currency as well as distributing coupons to pensioners, Tsipras knew that it was the end questioning him: “Are you serious?”
Enduring Criticism
In the book, the author asserts that Varoufakis demonstrated himself “unsuitable for an agreement that required intricate and delicate management.”
Tsipras also claimed how Varoufakis's aggressive approach left him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were advocating Grexit.
This account of history has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence regarding these claims.
