Source: Swedish media group EFN
In this interview, former finance minister of Greece Yanis Varoufakis talks about his new book Adults In The Room – My battle with Europe’s Deep Establishment. He also discusses the nuclear option he came close to using that could have sabotaged the ECB’s Quantitative Easing program.
As a taster, here are two very interesting exchanges:
Interviewer: You’re a game theorist. Can you model this kind of behavior (referring to the behavior of members of the Troika and Eurogroup during Greek debt renegotiations)?
Varoufakis: You don’t really need game theory to model this behavior. Cristine (Lagarde) explained this to me perfectly well. “This program can’t work but in the end we’ve put so much political capital into it, you can’t go back (on it).”
Interviewer: Who’s the bad guy (in your book)?
Varoufakis: No one. I tried to write this book with a humanist perspective. When you watch an ancient Greek tragedy, say, Oedipus, who is the bad guy? There is none. Everybody’s trying to do their best, but that’s the whole structure of a tragedy. The game is set up in such a way that even though everybody’s trying to do their best, in the end everybody’s contributing to disaster.