Former Prime Minister Alexis Tsipras States Yanis Varoufakis Proved ‘Unfit’ for the role of Greek Finance Minister During Financial Meltdown
In a recently unveiled personal account, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he examines that turbulent period of Greece's debt drama.
A Controversial Choice
In Tsipras's recollections, he appointed that unorthodox economist Varoufakis as the finance minister mainly because of his worldwide fame and Varoufakis's highly compelling skills when it came to communicator.
“In reality, he was, actually, more of a star rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras suggests that Varoufakis possessed his own motives which involved advancing his publications as well as testing out his own game theories using Greece instead of truly fighting for the country's economic stability.
He explained how those talks to stave off bankruptcy were “not only a way to secure a better deal for Greece. They were a test, a monumental chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece came dangerously close to leaving the eurozone.
At stake lay not only Greece's future but also the harsh austerity policies required in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, including an urgent plea to Russia to buy Greek bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the punitive conditions were subjected to a public vote, an action which threw Europe into deeper crisis of identity.
Although the referendum was carried decisively by voters against the cuts, the prime minister was forced but to ignore the result and agree to a bailout package from creditors which turned out to be tougher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan that included establishing a parallel currency as well as distributing coupons to pensioners, the leader knew it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, Tsipras concludes how his former ally had proved himself to be “unfit for a deal demanding complex and delicate management.”
He further wrote that Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
This retelling of history has been met with anger along with shock among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.