Yanis Varoufakis facts for kids
Quick facts for kids
Yanis Varoufakis
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| Γιάνης Βαρουφάκης | |
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Varoufakis in 2019
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| Secretary-General of MeRA25 | |
| Assumed office 26 March 2018 |
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| Preceded by | Position established |
| Minister of Finance | |
| In office 27 January 2015 – 6 July 2015 |
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| Prime Minister | Alexis Tsipras |
| Preceded by | Gikas Hardouvelis |
| Succeeded by | Euclid Tsakalotos |
| Member of the Hellenic Parliament | |
| In office 8 July 2019 – 21 May 2023 |
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| Constituency | Thessaloniki A |
| In office 25 January 2015 – 20 September 2015 |
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| Constituency | Athens B |
| Personal details | |
| Born |
Ioannis Georgiou Varoufakis
24 March 1961 Palaio Faliro, Athens, Greece |
| Citizenship | Greece Australia (since 1991) |
| Political party | MeRA25 (since 2018) |
| Other political affiliations |
Syriza (2015) |
| Spouse | Danae Stratou |
| Children | 1 |
| Education | |
| Academic career | |
| Field |
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| Influences | |
Yanis Varoufakis (born 24 March 1961) is a Greek economist and politician. He is known for his work in economics and his role in Greek politics. Since 2018, he has been the leader of MeRA25, a political party he helped start. He also co-founded the Democracy in Europe Movement 2025 (DiEM25) in 2016.
Before that, he was a member of the Syriza party. He served as Greece's Minister of Finance from January to July 2015. During this time, he was involved in important talks about Greece's financial problems.
Varoufakis was first elected to the Hellenic Parliament with Syriza in 2015. He represented the Athens B area. After the election, he became the Finance Minister. Later, he represented Thessaloniki A as a MeRA25 Member of Parliament from 2019 to 2023.
Contents
Early Life and Schooling
Yanis Varoufakis was born in Palaio Faliro, Athens, Greece, on 24 March 1961. His parents were Georgios and Eleni Varoufakis.
His father, Georgios, moved to Greece from Cairo in 1946. He studied chemistry at the University of Athens. During a difficult time in Greece, he was asked to speak against communism. He refused and was sent to an island called Makronisos for four years. After being released, he finished his studies and worked for a large steel company. He later became its chairman.
Yanis's mother, Eleni, also studied chemistry. She became involved in politics and worked for women's equality. She served as a local council member in Palaio Faliro for many years.
When Yanis was six, there was a military takeover in Greece. He later said this event taught him about freedom and the endless possibilities for progress. He attended the private Moraitis School. He decided to spell his first name "Yanis" instead of "Giannis" for artistic reasons.
In 1978, Varoufakis moved to the United Kingdom for his education. He first wanted to study physics at the University of Essex. However, he soon switched to mathematics. While at Essex, he joined various student groups. He also took part in student debates.
He then went to the University of Birmingham in 1981. There, he earned a master's degree in mathematical statistics. He completed his PhD in economics at the University of Essex in 1987.
Working as an Economist
From 1982 to 1988, Varoufakis taught economics at the University of Essex and the University of East Anglia. He also taught at the University of Cambridge. He then moved to Australia and taught at the University of Sydney until 2000. In 1991, he became an Australian citizen.
In 2000, he returned to Greece. He became a professor of economic theory at the University of Athens. He started and led a special PhD program in economics there. In 2005, he became a full professor.
From 2004 to 2006, Varoufakis was an economic advisor to George Papandreou, who later became Prime Minister.
In 2012, Varoufakis worked as an economist for Valve Corporation, a video game company. He studied the virtual economy within their game platform, Steam. He also worked on a game to predict gaming trends.
He also taught as a visiting professor at the Lyndon B. Johnson School of Public Affairs in Texas. In 2013, he became a guest professor at Stockholm University. There, he worked on game theory.
Minister of Finance (2015)
Varoufakis was elected to the Greek parliament in January 2015. He became the Finance Minister in the new government led by Alexis Tsipras. The new government had promised to change Greece's loan agreements and reduce strict budget cuts.
Greece needed to extend its loan agreement, which was ending soon. Varoufakis led these important talks with the Eurogroup (finance ministers of Eurozone countries) and the International Monetary Fund (IMF). On 20 February 2015, an agreement was made to extend the loan for four months. Varoufakis believed this was a good start for new negotiations.
Varoufakis thought that the previous loans given to Greece were not helping. He believed they made Greece's debt worse and led to a deep economic downturn. He argued that the loans mainly helped private banks, not the Greek people.
However, the lenders did not agree to change the loan terms or restructure Greece's debt. There were disagreements between Greece and other Eurozone countries. Some countries felt Greece should follow the same strict rules they had.
Varoufakis announced that his government would restart the process of selling state-owned assets to private companies. But they would make sure the state kept some ownership. They also wanted to ensure good working conditions for employees.
After many weeks of talks, no agreement was reached. On 25 June 2015, Varoufakis was given a final offer by the Eurogroup. He and his government felt this offer was not workable. The next day, Prime Minister Tsipras called for a public vote (referendum) on the proposal.
On 5 July 2015, the referendum took place. Varoufakis strongly supported a "No" vote, meaning Greece should reject the proposal. He said he would resign if Greeks voted "Yes." The result was a clear "No" vote (61.5%).
However, a few hours later, Varoufakis resigned. He later explained that he resigned because the Prime Minister decided to accept the lenders' terms despite the "No" vote. Varoufakis did not want to be part of that decision.
After his resignation, Varoufakis revealed details about a secret project he worked on as Finance Minister. This project, called "Plan B," aimed to create a backup payment system for Greece. It was a plan in case the main financial system failed.
In August, the Greek government (without Varoufakis) approved a third bailout agreement. Varoufakis and many other Syriza members voted against it. He then resigned from his parliamentary seat. Prime Minister Tsipras also resigned and called for new elections. Varoufakis decided not to run again for Syriza. He wanted to focus on creating a European network to improve democracy in Europe.
Later Political Work (2015–Present)
In September 2015, Varoufakis appeared on a British TV show called Question Time. He was praised for his clear explanations. He describes himself as a "libertarian Marxist."
In October 2015, he spoke about the UK's vote on staying in the European Union. He urged the UK to remain in the EU and work to make it more democratic.
On 9 February 2016, Varoufakis launched the Democracy in Europe Movement 2025 (DiEM25) in Berlin. This movement aims to bring democracy to Europe. In March 2018, he started his own political party in Greece, MeRA25. This party is linked to DiEM25.
In 2018, Varoufakis also helped launch the Progressive International. This is a global movement that brings together progressive leaders and activists.
In the 2019 European Parliament election, Varoufakis ran as a candidate in Germany but was not elected. However, in the Greek elections in July 2019, his party MeRA25 passed the required percentage to enter the Greek parliament. Varoufakis was re-elected as a Member of Parliament.
In 2019, he supported Jeremy Corbyn, the leader of the British Labour Party, in the UK general election.
In 2021, Varoufakis wrote an article about Facebook's Meta project, offering his thoughts and criticisms.
In October 2022, Varoufakis shared his views on the conflict between Russia and Ukraine. He said he supports Ukraine's defense of its homes. He also suggested ways for the conflict to end peacefully.
In March 2023, Varoufakis was attacked in Athens. DiEM25 described it as a "fascist attack." After this, he accepted police protection.
In the Greek elections in May and June 2023, his party MeRA25 did not get enough votes to enter parliament. So, Varoufakis was not re-elected as an MP. He also ran in the 2024 European Parliament election but was not elected.
Recent Events
In April 2024, Varoufakis's party helped organize a conference in Berlin. The conference was stopped by the Berlin Police. Germany also issued a ban on Varoufakis entering the country for a few days and from taking part in political activities there. Varoufakis has said he will take legal action against the German state.
Books and Films
Varoufakis has written several books. They cover topics like the European debt crisis, global financial issues, and game theory.
Some of His Books in English
- Game Theory: A Critical Introduction (1995)
- Modern Political Economics: Making sense of the post-2008 world (2011)
- The Global Minotaur: America, the True Origins of the Financial Crisis and the Future of the World Economy (2011)
- Europe after the Minotaur: Greece and the Future of the Global Economy (2015)
- And the Weak Suffer What They Must? Europe's crisis, America's economic future (2016)
- Adults in the Room: My Battle With Europe's Deep Establishment (2017)
- Talking to My Daughter About the Economy (2017)
- Another Now: Dispatches from an Alternative Present (2020)
- Technofeudalism: What Killed Capitalism (2023)
Films About His Work
A film based on his book Adults in the Room was directed by Costa-Gavras and released in 2019. Yanis Varoufakis was played by actor Christos Loulis.
In 2024, a six-part documentary series about him was released. It was called In the Eye of the Storm: The Political Odyssey of Yanis Varoufakis.
Personal Life
Yanis Varoufakis is married to Danae Stratou, who is an artist.
See also
In Spanish: Yanis Varoufakis para niños
