Ex-PM Alexis Tsipras States Varoufakis Proved ‘Inappropriate’ for the role of Greek Treasury Chief Amid Debt Crisis
Within his freshly published memoir, named Ithaki, the former leader Tsipras spares no criticism as he examines that chaotic period during Greece's financial crisis.
A Controversial Choice
In the ex-PM's version, Tsipras chose that maverick economist Varoufakis as his finance minister mainly because of his international reputation along with his highly compelling skills when it came to speaker.
“In reality, he was, in reality, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges that Varoufakis had his own motives which involved advancing his publications as well as experimenting with his own economic models on the nation rather than genuinely fighting for the country's economic stability.
Tsipras wrote that the talks to stave off insolvency became “not only a way of achieving a better deal for Greece. They were a test, an historic chance to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
During rollercoaster negotiations, Greece came dangerously on the brink of exiting the eurozone.
On the line was not only the country's destiny but also the punishing austerity measures required in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds from other sources, including an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, the harsh bailout terms were subjected to a popular referendum, a move that plunged Europe into a deeper crisis of identity.
Even though the vote was won resoundingly by voters who opposed austerity, the prime minister had little option to reject its outcome and agree to a rescue deal from creditors that turned out to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted publicity, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
When the minister outlined a contingency plan involving creating a secondary currency as well as distributing coupons to retirees, Tsipras knew it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras asserts how his former ally had proved himself “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras also claimed how his confrontational style left him more and more alone with colleagues, endangered the country, and helped hardliners that were advocating Grexit.
This retelling of events has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.