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> but his immense stupidity definitely did more harm than help. Difficult to say. It is now accepted that the management of the Greece crisis and, in general,
by coutego 4y ago
> but his immense stupidity definitely did more harm than help.
Difficult to say. It is now accepted that the management of the Greece crisis and, in general, the 2008 crisis by the EU was horribly wrong. So much so that it almost destroyed it. The reaction to the COVID crisis in 2020 by the EU was exactly the opposite that in 2008, because of the lessons learnt back then. Those lessons became obvious in part because of the "noise" of people like Varoufakis or Paul Krugman, who explained at the time why the EU strategy was a mistake and what should be done instead. Time proved them mostly right.
Varoufakis' rock star attitude and insistence to stick to economic theory discussions when debating with people who were just trying to cut their own losses, rather than finding what was the correct thing to do for the common good, was probably not a winning strategy. Nevertheless, from the economics point of view (not the realpolitik point of view) it now looks he was right.