Ex-PM Alexis Tsipras States Varoufakis Proved ‘Unfit’ for the role of Greek Finance Minister Amid Debt Crisis
In a recently unveiled autobiography, named Ithaki, the ex- leader Alexis Tsipras pulls no punches as he reflects on that chaotic period during Greece's debt drama.
A Controversial Choice
According to Tsipras's recollections, he selected that unorthodox academic Varoufakis to be the finance minister primarily because of his worldwide fame along with his highly compelling abilities as a speaker.
“He was, truthfully, more like a personality rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests how Varoufakis possessed his own agenda that included promoting his books as well as experimenting with his own game theories on the nation instead of genuinely fighting for the country's financial survival.
He explained how the negotiations to avoid insolvency became “not just a method of achieving improved terms for the country. They were a test, a monumental chance to prove the truth of his economic theories.”
High-Stakes Negotiations
During rollercoaster negotiations, the country found itself perilously on the brink of leaving the single currency area.
At stake lay both Greece's future but also the severe austerity policies demanded in exchange for bailout funds by international creditors.
Failed Options
Efforts to secure funds elsewhere, including an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, those punitive conditions were subjected to a public vote, an action which threw the EU into further crisis of identity.
Although the vote was carried resoundingly by voters against the cuts, the prime minister was forced to reject its outcome then negotiate a bailout package with creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan that included creating a secondary currency as well as distributing vouchers to retirees, the leader said he realised it was game over questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras asserts how his former ally demonstrated himself “unfit for an agreement demanding intricate and delicate management.”
He further wrote how his confrontational approach left him more and more alone with colleagues, put Greece at risk, while assisted hawks who were advocating Grexit.
The retelling of history has provoked anger along with stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence on the matter.