He may have resigned as Finance Minister but the guy is pissed. Greece not only completely caved. They agreed to sell off 50 billion Euros of assets to the banks. Governments selling assets is good. But selling them to German banks is definitely not good.
Varoufakis has a Q&A up at Zerohedge that shows both sides of him pretty well. That gross white-wine-socialist side that seems to shrug off all the grotesqueness of the situation, and the human side of him. These are the most interesting lines: (The full interview can be found here.)
“It’s not that it didn’t go down well – there was point blank refusal to engage in economic arguments. Point blank. You put forward an argument that you’ve really worked on, to make sure it’s logically coherent, and you’re just faced with blank stares. It is as if you haven’t spoken. What you say is independent of what they say. You might as well have sung the Swedish national anthem – you’d have got the same reply.”
This weekend divisions surfaced within the Eurogroup, with countries split between those who seemed to want a “Grexit” and those demanding a deal. But Varoufakis said they were always been united in one respect: their refusal to renegotiate.
“There were people who were sympathetic at a personal level, behind closed doors, especially from the IMF.” He confirmed that he was referring to Christine Lagarde, the IMF director. “But then inside the Eurogroup [there were] a few kind words and that was it: back behind the parapet of the official version. … Very powerful figures look at you in the eye and say ‘You’re right in what you’re saying, but we’re going to crunch you anyway’.”
Varoufakis was reluctant to name individuals, but added that the governments that might have been expected to be the most sympathetic towards Greece were actually their “most energetic enemies”. He said that the “greatest nightmare” of those with large debts – the governments of countries like Portugal, Spain, Italy and Ireland – “was our success”.“Were we to succeed in negotiating a better deal, that would obliterate them politically: they would have to answer to their own people why they didn’t negotiate like we were doing.”
The deal now has to go through a bunch of parliaments. Who knows if it will. But here’s a scenario that no one sees coming. It’s a long shot, but possible. The plan is implemented at the expense of the Greek government collapsing and new elections being called. Varoufakis is pleaded to run at the head of a new party. He wins.
And he scraps the deal.
Yanis Varoufakis is not a good economist. He’s a very bad one. But he does not covet power either. He’s half human, unlike the others who aren’t human at all. If he is forced into the Prime Minister’s seat, anything could happen.