Greece is in trouble. There is no way they could repay the debt if they tried, unless they confiscate everyone's savings. The only sensible thing is to default on the debt, as had happened many times before when investors made the imprudent choice bought government bonds that were never going to be paid back. It is only then the toxic assets can be cleansed out of the economy so it can continue to grow, rather than being stuck in some sort of bad zombie bank equilibrium like Japan had been for the past 20 years.
He is an author of multiple books on game theory.
http://www.amazon.com/Game-Theory-A-Critical-Introduction/dp... http://yanisvaroufakis.eu/books/game-theory-a-critical-text/
Greece is in trouble. There is no way they could repay the debt if they tried, unless they confiscate everyone's savings. The only sensible thing is to default on the debt, as had happened many times before when investors made the imprudent choice bought government bonds that were never going to be paid back. It is only then the toxic assets can be cleansed out of the economy so it can continue to grow, rather than being stuck in some sort of bad zombie bank equilibrium like Japan had been for the past 20 years.