As Greece walks on egg shells yielding to the plan from
creditors, we learn the importance of a basic principle- Bad dress sense leads
to lack of professional credibility.
Yanis Varoukfais, an erudite in true sense, with MSc in
Mathematical Statistics, PhD in Economics and sometimes credited as most knowledgeable
man on Game Theory, had some brilliant ideas for Greek debt swap, which didn’t
find much favour with the German creditors. Probably no one was as honest as Varoufakis
in openly stating Greece’s inability to service its debt since the first
liquidity injection in 2010. His statement to the press on July 6, 2015, when
he was forced to resign, speaks to the clarity and grasp he commands on the
Greece debt crises.
Regardless, Varoufakis is being thrown under the bus, accused
of illegally plotting Greece’s exit and to some degree being made a scape goat
for the resurgence of Greece’s liquidity problems this year. I propose these accusation stem from him not
fitting in with his European counterparts. Unfortunately, his good message was
lost, and his proposal discredited because he didn’t behave in line with how
European politics works. To add fuel to the fire, he didn’t blend in with
political elite by dressing conservatively. He vocalized his thoughts openly
without first socializing and seeking blessing of the current European
rainmakers.
Motorbike riding, loud shirt wearing thought-leader’s
message was discounted and dismissed. A political shame, as we will see
Greece’s economy further shrink in the coming years under the burden of huge
debt payments. Varoufakis channelled a radical image that cast him as an
outsider from the very start when he was appointed Minister of Finance.
Varoufakis made news when he walked into Downing Street dressed casually; wearing a
leather jacket. An article by TheGuardian referred to the attire as “Madchester drug dealer’s coat”.
Europe is in dire need of radical thinking to salvage Greece
and the other Greece’s in making, but at the same time, Varoufakis stuck out
like a sore thumb amongst the Eurogroup political class, which disliked his casual clothes and non-conformist attitude,
and could never move past it to embrace sound macroeconomic plan proposal. This international debacle underscores that
dressing can’t be taken casually, even if one is brilliant.
Nice post!
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