Former Prime Minister Alexis Tsipras Asserts Varoufakis Proved ‘Inappropriate’ for the role of Greece's Finance Minister During Financial Meltdown
In a recently unveiled personal account, called Ithaki, the ex- prime minister Tsipras does not hold back as he examines that turbulent era during Greece's financial crisis.
A Controversial Choice
In the ex-PM's version, he chose that unorthodox economist Varoufakis as his finance minister mainly because of his global profile along with his highly compelling skills when it came to communicator.
“He was, actually, more of a star rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges that his finance chief possessed a personal motives that involved advancing Varoufakis's publications as well as testing out his game theories using Greece instead of genuinely fighting for the country's economic stability.
Tsipras explained how those discussions to avoid insolvency became “not only a way of achieving a better deal for the country. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid tense negotiations, Greece came perilously close to exiting the eurozone.
At stake was both Greece's future but also the harsh austerity measures required in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, the punitive conditions were subjected to a public vote, a move which plunged Europe into further crisis of identity.
Although the vote was carried decisively by those against the cuts, Tsipras was forced to ignore the result and agree to a rescue deal from foreign lenders which proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the covers of magazines the world over … it seemed he relished his new role.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency as well as issuing vouchers to pensioners, Tsipras knew it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for a deal that required intricate and sensitive management.”
He further wrote that Varoufakis's confrontational approach made him more and more alone with colleagues, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
The account of history has been met with fury along with shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.