Varoufakis – the missed parameter.

The shock of the weekend shows again that something was wrong. European shares marked a dramatic decline in early trading today and over time to register the strongest decrease from 2011 onwards.
Eurogroup decides equation Greece, perhaps because it was compiled incorrectly.

According to some analysts sighted Tsipras is the face of the negotiations, but the motor is Yannis Varoufakis. Most of the time Tsipras mostly navigated around. He won time and followed the polls, which showed that 30% of Greeks want the drachma, and complete SYRIZA voters are rift with creditors. Tsipras monitors and analyzes important for him politically effects.

The Finance Minister is different. From the outset, he is aggressive and mathematically precise. His actions are coherent and logical all the time, but Eurogroup not paid due attention to this logic.

According to Alexis Papahelas analyst in "Katimarini", Varoufakis is among the most prominent experts in the Game theory and apply these skills consistently and deliberately throughout the negotiation process. However unnoticed.

Yannis Varoufakis born on March 24, 1961 in Athens. He has Greek and Australian citizenship. He graduated from University of Essex in Colchester (9 in the ranking of British universities). There he studied physics, statistics and economics. Then Master Degree in Mathematical Statistics and PhD in Economics at University of Birmingham (4 on the same list).

He is Professor at the American University of Texas at Austin (founded 1883) and National University of Athens (founded 1837). Specialist in a crisis economy – global and European. He is consultant and lecturer in Game Theory. His most famous book is an English-language bestseller "The Global Minotaur", investigating the USA influence in global economic processes.

Varoufakis describes itself as "libertarian socialist". Stream is based on the resistance against authoritarian coercion and against the social hierarchy. Stems from certain views of Bakunin and anarchism. He places at first liberty – high than the value of the state and above the capitalist social structure.

Obviously, the most having great power in the world persones negotiating with Greece were shocked this weekend. (And they have great political experience. Tsipras will not.) Most of this presumably helped their own lack of vision and arrogance because they misjudged who is actually against them.

Yannis Varoufakis repeatedly assess proposals to creditors as inadequate technical and mathematical wrong. It is quite possible that somewhat so. On the other hand, the Greek finance minister excels in education and academic success considerable part of the opposing party and its conduct of intellectual superiority, although it remains a scandal, it becomes understandable, and along with it a certain character.

Now Mrs Merkel and Mr Hollande face serious psychological and strategic troubles. They can not suddenly give way, because this will have a huge negative impact in terms of behavioral economics. On the other hand, they are increasingly faced with the danger to remain in the recent history of their own countries as the biggest losers although specific purely financial damage will not be fatal. Christine Lagarde also shows nervousness and confusion of the impasse. In theory and practice of the International economy and finances, there is a simple base - voluntarism and benefits for both sides. Realistically, in peacetime – coercion is impossible. So they needs of another solution.

What next?
June 30 - Greece has to pay 1.6 billion. Euros to the IMF.
July 1 - Deadline ECB to solve the current program parameters "ELA".
July 5 - a possible Greek referendum.
July 10 - the maturity of Greek government bonds for 2 bn. Euros.
July 20 - issue maturity Greek bonds worth 3.5 billion. Euro held by the ECB.
August 20 - the maturity of Greek bonds issue worth 3.2 bn. Euros held by the ECB.

It is quite obvious that creditors have not beneficial move.

A realistic option in this vicious circle is for creditors to reconsider its current orthodox tactics (which obviously does not lead to an acceptable result) and quietly make diplomatic step. Mostly motivated by his own image and cool political interest.