No, no, this isn’t about the
Greece crisis of 2015 which started in 2010 after austerity measures were put
in place. This also isn’t about whether Greece or Germany is right. This is about
Yanis Varoufakis. An academic who never practiced what he preached (not saying
in a condescending manner, it is just that academics are not judged based on the
result of actual policies). He was ‘selected’ as Finance Minister by a
leftist-government to oversee a crisis which has no precedence. An economic
union which has no precedence. An economic union on the verge of losing one of
its members due to default in debt payment. A crisis caused by excesses of
capitalism.
He is a political novice. And he
is negotiating with the Germany, the strongest economy in Europe. Germany who
have been its creditors. His naivety turned to be his strength. He did not have
any baggage to carry. He had a free-mind and he came out with solutions. In spite
of being from a leftist party, he was open to privatisation. In one of his
interviews he said they wanted privatisation but that doesn’t mean to sell
assets at fire-sale prices. Rather to bring in know-how to bring the economy
back on its foot. He was stubborn on his thinking that the crisis was not all
Greece’s fault. He wanted time and respectful help to revive the economy.
Normally, any person would have
acceded to the demands made by the creditors. This is where socialism, despite
its negatives, is better than capitalism. When they saw that its policy is
going in unchartered territory, they went back to the people with a referendum.
Being a democratic country having an elected parliament, they did not have to
go for this. They had the right to take a decision. Yet, they went back to the
people. They realised that the people had enough of austerity and depended too
much on others. They wanted their respect back. And if it means being alone, so
be it. Once the referendum vindicated Yanis Varoufakis’ of a ‘No’ vote, he
swallowed his pride and stepped aside so that a solution could be found out. The
hatred he faced from the creditors shouldn’t have acted as an hindrance for a
deal between Greece and Europe. He will accept accusations of being obdurate. He
resigned and paved the way for a new deal with Greece on a moral higher ground
after the ‘No’ vote. If we have more men as Yanis Varoufakis in politics, the
world will be a much economically stable place.
