Greece is fast running out of options to solve its debt crisis

Last Tuesday, Greek finance minister Yanis Varoufakis opted for some downtime, taking himself off to the theatre. The play he opted for was Happy Days by none other than Samuel Beckett. 

The drama is about an eternal optimist sinking into a sandy mire. Varoufakis, who spent much of the week mud-wrestling with Germany’s powerful finance minister, Wolfgang Schäuble, may soon be in a position to pen some Beckettian accounts of his own.

The economist-turned-politician is known to be a follower of Game Theory as a guide to negotiation tactics. However, Varoufakis and his boss, Prime Minister Alexis Tsipras, may have been wondering at the weekend just how far their tactics have brought them.