Ex-PM Tsipras States Varoufakis Was ‘Unsuitable’ as Greece's Treasury Chief During Debt Crisis
In a newly released autobiography, called Ithaki, the ex- premier Tsipras spares no criticism as he examines that chaotic era during Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's version, he appointed that maverick academic Yanis Varoufakis to be his finance minister largely due to his global profile along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, in reality, more of a celebrity rather than an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras alleges that his finance chief had his own agenda which involved promoting Varoufakis's books as well as experimenting with his own game theories using Greece instead of genuinely fighting for the country's economic stability.
He explained that those negotiations to prevent bankruptcy were “not just a way of achieving improved terms for the country. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid tense discussions, the country found itself perilously on the brink of exiting the eurozone.
On the line was both Greece's future and the harsh cutbacks required in return for rescue loans from international creditors.
Failed Alternatives
Attempts to find funds from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating bailout terms were subjected to a public vote, a move which threw the EU into a deeper crisis of identity.
Although the referendum was won decisively by voters against the cuts, Tsipras was forced but to ignore the result and negotiate a bailout package from foreign lenders that proved to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving creating a secondary currency and issuing coupons to pensioners, Tsipras knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras asserts that Varoufakis had proved himself “unfit for a deal demanding intricate and sensitive handling.”
Tsipras further claimed how Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were pushing for a Greek exit from the euro.
This retelling of history has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.