book hack
Adults in the RoomBy Yanis Varoufakis

In a Nutshell

In his 2017 memoir, economist and former Greek finance minister Yanis Varoufakis unveils how the European Union's austerity policies exacerbated Greece's debt crisis.

Favorite quote

Once caught in this web of power it takes an heroic disposition to turn whistle-blower, especially when one cannot hear oneself think amid the cacophony of so much money-making. And those few who do break ranks end up like shooting stars, quickly forgotten by a distracted world.

Yanis Varoufakis

Introduction

When the 2008 global financial crisis hit the European Union, Greece suffered the most. Yet rather than designing a rescue plan, EU officials put Greece into an impossible position.

Brought into power as Greece's finance minister by the left-wing Syriza party, economist Yanis Varoufakis sought to negotiate a way out of the country's debt. Yet European policymakers pushed Greece to adopt austerity measures despite knowing that they would only exacerbate the crisis. In his blistering memoir Adults in the Room, Varoufakis recounts the aftermath of the debt crisis, culminating in his decision about how to respond to the unjust measures.

Here are the 3 key insights from this Hack

  1. 1.
    The European troika worsened the debt crisis by extending Greece another €110 billion loan
  2. 2.
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  3. 3.
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