Varoufakis: “be prepared to blow the whole thing up”

The radio show I just posted consists of excerpts from five interviews I’ve done since 2008 with the Greek economist Yanis Varoufakis, who is now the country’s finance minister. Anyone interested in the strategy that Greece might pursue in negotiations with its creditors should listen.

The show concludes with Varoufakis describing an aggressive negotiating strategy:

[T]o negotiate, to be taken seriously, you have to have a credible threat. You have to be prepared to blow the whole thing up, simply by being intransigent if you’re not taken seriously. So this is my recommendation. Prepare for a very tough, very painful, potentially explosive negotiation.

One Comment on “Varoufakis: “be prepared to blow the whole thing up”

  1. I have to thank you and Yves Smith for bringing Yanis to my attention. His writing and your interviews have been highly enlightening. I certainly hope that he drives a hard bargain in his new role.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: