Yanis Varoufakis
Yanis Varoufakis was appointed the new finance minister of Greecegrreporter.info

About three years ago, popular game development and digital distribution company Valve hired lesser-known economist Yanis Varoufakis to analyse and improve the Steam Market.

The economist has now gone places, with his appointment as the new finance minister of Greece.

The Euro debt crisis has been one of the biggest talking points in the last couple of years. The effect has been so big that it's still an ongoing multi-year long debt crisis taking place in a handful of eurozone member states since end of 2009.

Though the causes for running unsustainable budget deficits and debt levels varied for different countries, in Greece, high public sector wage and pension commitments led to a phenomenal increase in debt. 

However, this weekend saw Greece vote in Syriza, an anti-austerity party, which plans to end government cuts and Greece's financial crisis by investing more time and effort to grow the Greek economy. Varoufakis has been chosen precisely for the purpose. 

Sky News' political editor Faisal Islam was the first one to break the news via his Twitter feed when he wrote: "Congratulations @yanisvaroufakis new finance minister of Greece, member of the Eurogroup & general dude."

However, this isn't any fluke appointment, in case you are of that opinion.

While working at Valve, Varoufakis often cited nobel-prize winner Friedrich Hayek and classical liberal and Scottish philosopher and economist Adam Smith, when talking about the fundamentals of capitalism introduced in areas hitherto untouched. "Firms can be seen as oases of planning and command within the vast expanse of the market," he previously wrote.

Varoufakis will also have to quit the job at hand once he assumes office as finance minister of Greece. As of now, the country is suffering from severe economic and political crisis that resulted in bankruptcy and abnormally high unemployment rates and finally, an election.

Moreover, Greece's new Prime Minister Alexis Tsipras has also promised to end "the humiliation and pain" the country experienced in the last five years. 

While we wish Varoufakis all the best in his new and more serious role (no disrespect, Valve), it also needs to be said that this is quite the direction to proceed, after keeping the daily sales of Counter-Strike add-ons and weapon skins and similar stuff related to DOTA 2.

Quick Links