Former Prime Minister Alexis Tsipras Asserts Yanis Varoufakis Proved ‘Unfit’ as Greek Treasury Chief Amid Debt Crisis
Within his recently unveiled personal account, named Ithaki, the ex- leader Tsipras spares no criticism while he reflects on that turbulent period during Greece's debt drama.
An Unconventional Choice
According to Tsipras's account, he chose the maverick academic Varoufakis to be the treasury head primarily because of his worldwide fame and his very persuasive abilities when it came to public orator.
“He was, actually, more of a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader claims that Varoufakis had a personal agenda which involved advancing his publications as well as experimenting with his theories on Greece instead of genuinely fighting for its economic stability.
He explained how the talks to avoid bankruptcy were “not only a method to secure improved terms for the country. They were an experiment, an historic chance to demonstrate the validity of his theories.”
Critical Negotiations
During rollercoaster negotiations, Greece found itself perilously close to leaving the eurozone.
At stake was not only Greece's future but also the severe austerity measures required in return for financial aid from foreign lenders.
Failed Options
Efforts to secure financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, the harsh bailout terms were subjected to a popular referendum, a move that threw Europe into further existential crisis.
Although the referendum was carried decisively by voters who opposed austerity, the prime minister was forced but to reject its outcome then negotiate a bailout package with creditors which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew publicity, who graced the covers of publications the world over … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy involving creating a parallel currency as well as issuing coupons to retirees, the leader knew it was game over questioning him: “Are you serious?”
Enduring Criticism
Within the book, Tsipras asserts that his former ally demonstrated himself “unfit for an agreement that required complex and delicate handling.”
Tsipras also wrote how his confrontational style made him more and more alone with colleagues, endangered the country, and assisted hardliners who were advocating Grexit.
This retelling of events has been met with anger and shock among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.