Month: September 2017

Dear Brit friends. I feel for you.

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For reasons I still fail to comprehend, Yianis “the Modest” Varoufakis, still manages to surface in the media, either as a celebrity speaker or as a controversial author. But it is probably only in the UK, where his status has been recently elevated into that of an unlikely hero. More than a year after that horrendous decision of the British, and with no solid strategy in hand, it seems that many Brexiteers believe they could draw useful lessons from the negotiation between Greece and its EU and IMF creditors, Varoufakis led back in 2015.

Well, I have news for them. It failed. Miserably.

If you want to understand why, I highly recommend WSJ’s article “”What Britain’s Brexit Negotiations Can Learn From Greece and a recent LSE Discussion Paper “Why Grexit cannot save Greece (but staying in the Euro area might)“. The later is an excellent brief analysis on what the short, medium and long term problems Greece would face had we left the Eurozone under Varoufakis’s “inspired” plan B.

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Back in 2015, Syriza was advertising its glorious ideas in one of the headquarters of international capitalism

After endless discussions with British colleagues and friends I feel their frustration. Don’t worry. You’ll get used to it.

We Greeks live with it for most of our lives.

Btw, if you want more read about where we stand at the moment in Brexit read the recent Guardian article: “UK’s approach to Brexit is ‘nostalgic and unrealistic’, says EU negotiator” (Guardian, 31/8/2017) and why “Brexit Is Beginning to Look Like No Brexit” (Bloomberg, 28/8/2017).

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