Former Prime Minister Alexis Tsipras States Yanis Varoufakis Was ‘Inappropriate’ as Greece's Finance Minister Amid Financial Meltdown
Within his freshly published autobiography, titled Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on the turbulent era during Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's version, Tsipras selected that unorthodox academic Varoufakis to be his finance minister largely due to his global profile and Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, actually, more of a star rather than an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras suggests how Varoufakis possessed a personal agenda that included promoting his publications and experimenting with his game theories on the nation rather than genuinely fighting for the country's financial survival.
Tsipras wrote how those talks to stave off insolvency became “not just a way of achieving improved terms for Greece. They were an experiment, an historic opportunity to prove the truth of his ideas.”
High-Stakes Negotiations
Amid tense discussions, Greece found itself dangerously close to leaving the eurozone.
At stake was both the country's destiny but also the harsh austerity policies demanded in exchange for rescue loans by foreign lenders.
Failed Options
Efforts to find financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, the punitive conditions were subjected to a popular referendum, a move that plunged Europe into a deeper existential crisis.
Even though the referendum was carried decisively by voters against austerity, the prime minister was forced but to reject its outcome then agree to a rescue deal with foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who attracted media attention, who graced the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving establishing a secondary currency and distributing vouchers to pensioners, Tsipras said he realised it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the book, the author asserts how Varoufakis had proved himself “unsuitable for an agreement that required intricate and delicate management.”
He also wrote that Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, while helped hardliners who were advocating Grexit.
The retelling of history has been met with anger along with shock in some quarters, while the former minister has maintained a deafening silence on the matter.