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Ex-PM Tsipras States Varoufakis Proved ‘Unsuitable’ for the role of Greek Finance Minister Amid Financial Meltdown
In a freshly published autobiography, called Ithaki, the former prime minister Alexis Tsipras does not hold back while he revisits that chaotic period of Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's recollections, Tsipras appointed the maverick economist Varoufakis to be his finance minister primarily because of the latter's international reputation along with Varoufakis's very persuasive skills as a public orator.
“He was, actually, more like a personality rather than an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief had a personal agenda which involved advancing his books and testing out his economic models on the nation rather than truly advocating its economic stability.
He noted how the talks to prevent bankruptcy became “not just a way to secure a better deal for Greece. They were an experiment, a monumental chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid volatile discussions, the country came perilously close to leaving the single currency area.
On the line was both Greece's future and the punishing austerity policies required in return for financial aid from international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, including a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, the punitive conditions were subjected to a public vote, an action that threw the EU into a deeper existential crisis.
Although the vote was carried decisively by voters who opposed the cuts, Tsipras had little option but to ignore the result and negotiate a bailout package from foreign lenders that proved to be tougher.
Final Straw
Tsipras revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency and distributing coupons to retirees, the leader said he realised it was game over questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras concludes that Varoufakis had proved himself “unfit for an agreement that required intricate and sensitive handling.”
He also wrote how his confrontational style left him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This account of events has provoked fury along with stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
Tyler Leon
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