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Victoria Mindova 

Do not believe me but consider what I am saying and do not deny it before considering it. This is the advice of economist Yanis Varoufakis to his students, whom GRReporter decided to follow in the analysis of his ideas that have become the guiding light of the political programme of SYRIZA. It has recently become clear that Varoufakis has left Greece and moved to the United States with his family to become a senior economist at the online games company Valve. It uses a virtual currency in its developments and in the words of the economist, cited by Businessweek, “they asked me to study their ‘economy’ so as to prevent the formation of bubbles.”

Varoufakis is known to our readers and the general public as a firm opponent to the Memorandum of financial assistance. His views are a strange symbiosis of left ideas for managing the public sector and right views about the role of fiscal policy in economic development. He is firmly against the austerity measures and calls for the establishment of an open solidarity from the rich countries of northern Europe to their poorer relatives on the periphery of the monetary union. According to him, the debt crisis, the deficit and the problems stemming from them are more symptoms of a "sick policy" pursued within the European Union than pathogenic formations of the Greek system.

In a recent publication, Varoufakis has openly encouraged the Greeks to vote for SYRIZA on 17 June. Two paragraphs below, he explains that voters should not read the party's election programme because "it is full of promises that cannot and will not be fulfilled" and is not worth the paper it is written on. Most likely, he means the increase in salaries, the appointments in the public sector and the increases in social benefits Alexis Tsipras promised last week. However, the economist with regulated residence in the United States urges the Greeks to elect the party that wants to cancel the Memorandum with the risk of waking up to the drachma the next day.

The main argument as to why Greece and the world should trust SYRIZA is that exit of Greece from the euro area will inevitably lead to disintegration of the single European currency. Varoufakis is firm about this assertion and repeats it often in his public appearances. Therefore, no matter what great promises the radical left makes, it will not take the country out of the euro area upon taking the power. In other words, he, like other local analysts, believes that Greece is too important for the euro area to be allowed to exit it. According to him, even if SYRIZA became the first party it would not be able to form its own government. It would form a coalition and therefore "the question is whether Europe is better off with a government in Athens which includes SYRIZA as a pivot or one which is supported by discredited pro-bailout parties, with SYRIZA leading from the opposition benches. I have no doubt, whatsoever that Europe’s interests are best served by the first option," Varoufakis said.

However, the stakes for the average Greek could be too high, especially if he has no guaranteed job in Seattle (for example), from where he can make bold calls between two analyses of the probabilities for expanding the profits of a gambling company. Brussels continues to send clear signals that if there are no reforms, there will be no aid. If there is no aid, there will be an uncontrolled bankruptcy followed by the collapse of the financial system in the country and the need for fast printing of its own currency. The same is the opinion of the head of the Bank of Greece George Provopoulos and a large number of economists. Many of the most ardent supporters of the idea of ​​a Europe of solidarity without fiscal consolidation and austerity measures are outside the euro area. Some support the idea of keeping the country within the currency union and others are against it. Whatever the developments for the Mediterranean country, those who will bear the burden will be the Greeks. Those, who remain in the country and cannot or do not want to leave as well as those who are fascinated with the prosperity promised by SYRIZA and those who are horrified by the prospects of an Argentinean type of bankruptcy.

A year ago, Yiannis Varoufakis gave an interview to GRReporter, saying that the only threat to the euro would come if Germany decided to leave the monetary union. He was then, and has remained, an opponent of austerity measures. However, Varoufakis did not deny that Greece needs some reforms.

"The first thing to do is to solve the problem with bureaucracy in Greece. This is a noose for taxpayers. It is disastrous and results in severe hostility between the citizens and the state." The solution according to Varoufakis is passing a law that would prohibit the state from seeking from citizens data that already exist somewhere in public administration. For example, if a young entrepreneur is willing to start a new business, he or she should not have to submit certificates from the tax office or the insurance company but the institutions themselves should find a way to communicate with each other. The need to reduce bureaucracy in Greece is a known fact to all familiar with the administrative system.