Because I spent many years during my previous life as an academic researching game theory, some commentators rushed to presume that as Greece's new finance minister, I was busily devising bluffs, stratagems and outside options, struggling to improve upon a weak hand. Nothing could be further from the truth.
Even though I resigned as Papandreou's adviser early in 2006 and turned into his government's staunchest critic during his mishandling of the post-2009 Greek implosion, my public interventions in the debate on Greece and Europe have carried no whiff of Marxism.
Game theorists analyze negotiations as if they were split-a-pie games involving selfish players.
Simple logic dictates that if you cannot even conceive the possibility of leaving a negotiation, then it is preferable never to enter one.
The euro is a hybrid of a fixed exchange-rate regime, like the 1980s ERM or the 1930s gold standard, and a state currency.