When you see Yanis Varoufakis, you might think Greece’s Financial Minister is fierce, straightforward and sometimes crude in his approach to bending Greece’s bailout package terms a bit before the EU. However, the burden he bears is the heaviest of the lot. With a country about to lose its economic potential, Varoufakis’ efforts going in vain is a lot of trouble not just for Greece but for the rest of the world.
After his Tweet made the headlines yesterday, Mr. Varoufakis might be cracking under the immense European pressure placed before him. But with the way he is handling the situation, he gains more credit from me. The EU is indeed a heavy mistress, but it has its own good points as well.
EU cannot keep saving Greece from its own economic meltdown. As Athens has less than a week to persuade EU officials to extend their bailout terms of about £5.6 billion, nerves will break and steel will shatter.
Greece’s stock market has fallen despite expectations of the Greek government defaulting on their loans. According to the Greek Deputy Finance Minister, the government is struggling to find money needed to pay wages and pensions for government employees this month.
Indeed, the Greek Financial Crisis is not one man’s burden. Varoufakis could be seen as the symbolism of Greek financial thought and resilience. The man’s patience is being tested, but he isn’t failing. He still holds hope and confidence that the country will get through soon enough.