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Ex-PM Tsipras Asserts Varoufakis Proved ‘Unfit’ for the role of Greece's Finance Minister Amid Debt Crisis
Within his recently unveiled autobiography, named Ithaki, the former premier Alexis Tsipras spares no criticism as he revisits that turbulent period of Greece's financial crisis.
An Unconventional Choice
In Tsipras's account, Tsipras selected the unorthodox academic Varoufakis as the finance minister largely because of the latter's worldwide fame and Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, in reality, more of a personality rather than an economist,” recalled Tsipras.
Conflicting Priorities
Tsipras alleges that Varoufakis possessed his own agenda which involved advancing his books and experimenting with his theories using the nation rather than genuinely fighting for its economic stability.
He explained how those negotiations to avoid insolvency became “not just a way of achieving a better deal for the country. They became a test, a monumental chance to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
During volatile negotiations, the country found itself dangerously close to exiting the single currency area.
At stake lay not only Greece's destiny and those punishing cutbacks required in return for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece was equivalent to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, an action which threw the EU into deeper crisis of identity.
Although the referendum was won decisively by voters who opposed the cuts, the prime minister had little option but to reject its outcome then agree to a bailout package from creditors that proved to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
After the minister proposed a contingency plan that included establishing a secondary currency and issuing coupons to retirees, Tsipras said he realised it was the end questioning him: “Is this for real?”
Enduring Criticism
Within the memoir, the author concludes that his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive handling.”
He further wrote how his aggressive approach left him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This retelling of history has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
Arthur Perry
Elara Vance is a luxury travel expert with over a decade of experience exploring exclusive destinations worldwide.
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