Former Prime Minister Tsipras States Yanis Varoufakis Was ‘Inappropriate’ as Greece's Finance Minister Amid Debt Crisis
In a newly released autobiography, named Ithaki, the ex- prime minister Tsipras spares no criticism as he examines the turbulent period of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's account, he chose the maverick academic Yanis Varoufakis to be the treasury head largely because of his worldwide fame and his very persuasive abilities when it came to public orator.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras claims that Varoufakis had his own motives which involved promoting his books and testing out his theories using the nation rather than truly fighting for its economic stability.
Tsipras noted how those discussions to prevent insolvency were “not only a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to prove the truth of his ideas.”
Critical Negotiations
During rollercoaster negotiations, Greece found itself dangerously close to leaving the eurozone.
On the line was not only Greece's destiny and those harsh cutbacks demanded in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the punitive bailout terms were put to a popular referendum, an action that plunged Europe into deeper crisis of identity.
Although the vote was won decisively by those who opposed austerity, the prime minister had little option but to ignore the result and negotiate a rescue deal with creditors which turned out to be more severe.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the covers of publications the world over … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy that included creating a secondary currency and distributing coupons to pensioners, the leader said he realised it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and delicate handling.”
He also claimed how his confrontational style made him more and more alone among peers, put Greece at risk, and helped hawks who were advocating Grexit.
The account of events has provoked anger and shock among certain groups, while Varoufakis has kept a deafening silence on the matter.