Belling the Cat Part 2: Greece’s “Innovation”

Interesting commentary from Yanis Varoufakis, Finance Minister of Greece, published in the NYT a few days ago.


In the midst of a highly academic treatise on why his motives are really not to engage in any games, but rather to do “the right thing,” Varoufakis meets the strain a writer always does when he is forced to come up with the “SO WHAT?” to his argument.

What is his “so what” to the question of what Greece must do?

Well… Let’s let him tell you:

“Against such cynicism [about Greek motives] the new Greek government will innovate.”


In the midst of a house afire, the Greek finance minister proposes to pull a rabbit out of his hat.

In corporate environments, innovation has become a sort of conjured savior within strategic plans.

All that is left is to define what innovations, where, and when.

The Greeks are suffering from the same delusion, it seems.

This is another great example of high-minded rhetoric being used to avoid discussion of tough choices.

It’s belling the cat, all over again.

All that is left is to find the mouse who will bell the cat.


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