Ex-PM Alexis Tsipras Asserts Yanis Varoufakis Proved ‘Inappropriate’ as Greece's Finance Minister During Financial Meltdown
Within his recently unveiled autobiography, titled Ithaki, the ex- premier Tsipras does not hold back while he reflects on the chaotic period of Greece's financial crisis.
A Controversial Choice
As per Tsipras's recollections, Tsipras selected that unorthodox academic Yanis Varoufakis to be the finance minister mainly due to his global profile along with his highly compelling abilities when it came to communicator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras alleges how his finance chief possessed his own motives which involved advancing his books as well as experimenting with his theories on the nation rather than truly advocating its economic stability.
Tsipras noted how those discussions to stave off insolvency became “not just a method of achieving improved terms for the country. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country found itself perilously close to leaving the single currency area.
On the line was not only Greece's future and the harsh austerity policies demanded in return for rescue loans from international creditors.
Failed Options
Attempts to find financing elsewhere, including a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those harsh conditions were put to a popular referendum, a move that plunged the EU into a further crisis of identity.
Although the referendum was won decisively by voters against austerity, the prime minister was forced but to ignore the result then agree to a rescue deal from creditors which turned out to be tougher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who drew media attention, who appeared on the covers of publications globally … it seemed he was enjoying his new role.”
After the minister outlined a backup strategy that included creating a secondary currency and distributing coupons to pensioners, Tsipras said he realised it was game over questioning him: “Is this for real?”
Enduring Criticism
In the memoir, the author asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate handling.”
He further claimed how Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, while helped hardliners that were pushing for Grexit.
This retelling of history has been met with fury along with shock among certain groups, while Varoufakis has kept a deafening silence regarding these claims.