Former Prime Minister Tsipras States Varoufakis Was ‘Inappropriate’ as Greek Treasury Chief During Debt Crisis
Within his freshly published personal account, named Ithaki, the ex- premier Alexis Tsipras spares no criticism as he reflects on the chaotic era of Greece's financial crisis.
An Unconventional Choice
According to Tsipras's account, he appointed the unorthodox economist Varoufakis to be the treasury head mainly due to the latter's global profile along with Varoufakis's highly compelling skills when it came to speaker.
“He was, actually, more of a star and less of an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how Varoufakis had his own agenda which included promoting Varoufakis's publications as well as experimenting with his game theories on Greece rather than truly advocating its financial survival.
Tsipras noted that the negotiations to avoid insolvency became “not just a way to secure a better deal for Greece. They became a test, an historic chance to demonstrate the validity of his ideas.”
Critical Talks
Amid volatile discussions, Greece found itself perilously close to exiting the eurozone.
On the line lay both the country's destiny and the punishing austerity policies demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the punitive bailout terms were put to a popular referendum, an action that plunged Europe into further crisis of identity.
Although the vote was won decisively by voters who opposed the cuts, the prime minister had little option but to ignore the result and negotiate a bailout package from creditors that proved to be tougher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the front pages of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency as well as distributing vouchers to retirees, Tsipras said he realised it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and delicate handling.”
He also claimed how his aggressive style made him increasingly isolated with colleagues, endangered the country, and helped hardliners who were advocating a Greek exit from the euro.
The account of events has provoked fury along with shock in some quarters, while the former minister has maintained a deafening silence regarding these claims.