Former Prime Minister Alexis Tsipras Asserts Yanis Varoufakis Was ‘Unfit’ as Greek Treasury Chief During Debt Crisis
Within his newly released personal account, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he reflects on the chaotic era of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's version, Tsipras appointed the unorthodox academic Varoufakis as his treasury head primarily due to his international reputation along with his very persuasive skills when it came to speaker.
“He was, truthfully, more of a personality rather than an economist,” stated Tsipras.
Clashing Priorities
Tsipras suggests how Varoufakis possessed a personal motives that included advancing Varoufakis's books as well as experimenting with his theories on the nation rather than truly fighting for its economic stability.
Tsipras noted how the discussions to stave off bankruptcy became “not just a way to secure improved terms for Greece. They became a test, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
Amid volatile negotiations, Greece came dangerously on the brink of leaving the eurozone.
On the line was not only the country's destiny but also the severe cutbacks required in exchange for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, including an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, a move that threw the EU into deeper crisis of identity.
Even though the referendum was won resoundingly by voters who opposed the cuts, the prime minister was forced to ignore the result then agree to a bailout package from foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan that included establishing a parallel currency and issuing vouchers to pensioners, Tsipras knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the book, Tsipras concludes that Varoufakis had proved himself “unfit for a deal demanding complex and delicate handling.”
He further wrote that Varoufakis's aggressive style left him increasingly isolated among peers, put Greece at risk, while assisted hawks who were advocating a Greek exit from the euro.
The retelling of history has been met with anger and shock among certain groups, while Varoufakis has kept a conspicuous quiet on the matter.
