Ex-PM Tsipras Claims Varoufakis Proved ‘Unfit’ as Greek Treasury Chief During Financial Meltdown
In a newly released autobiography, called Ithaki, the ex- leader Tsipras does not hold back as he reflects on the turbulent era of Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's recollections, Tsipras appointed that unorthodox academic Varoufakis to be the finance minister largely due to his worldwide fame and his “extremely attractive” abilities as a speaker.
“He was, actually, more like a personality rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras suggests that Varoufakis possessed his own agenda that included promoting Varoufakis's books as well as testing out his own game theories using Greece rather than genuinely fighting for its financial survival.
Tsipras wrote how those discussions to prevent insolvency were “not just a method of achieving a better deal for the country. They became a test, a monumental chance to prove the validity of his theories.”
Critical Talks
Amid tense negotiations, Greece came perilously close to leaving the eurozone.
On the line was both the country's future but also those severe austerity policies required in exchange for financial aid from foreign lenders.
Failed Alternatives
Attempts to find funds elsewhere, including a desperate plea to Russia to purchase Greek bonds, were rejected.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were put to a public vote, a move that plunged Europe into a deeper crisis of identity.
Although the referendum was carried resoundingly by voters who opposed the cuts, Tsipras was forced but to reject its outcome then negotiate a rescue deal from foreign lenders which turned out to be tougher.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the public image of negotiation, the man who drew media attention, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan that included creating a secondary currency and distributing coupons to pensioners, Tsipras knew that it was game over and asked him: “Are you serious?”
Lasting Criticism
In the book, the author concludes how Varoufakis had proved himself “unsuitable for an agreement that required intricate and sensitive management.”
He further wrote how Varoufakis's confrontational approach made him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were pushing for Grexit.
The retelling of history has provoked anger and shock among certain groups, while the former minister has kept a conspicuous quiet on the matter.