This article on Varoufakis’s book, Adults in The Room: My Battle with Europe’s Deep Establishment (2017) and about what happened in Greece in 2015 is a guide for left-leaning readers who are not happy with the dominant narrative meted out by the mainstream media and the Troika-controlled governments. These readers are also dissatisfied with the former Greek Finance Minister’s version. As a counterpoint to Varoufakis’s story, I have highlighted events that he is silent about, and I have expressed different views on what he should have done and what he did instead. My story runs parallel, and not opposite, to his.
It is crucial to thoroughly analyse the policy implemented by the Varoufakis-Tsipras government because, for the first time in the 21st century, a radical left-wing government was elected in Europe. If we want to avoid another disaster, it is absolutely vital to identify the flaws and understand what went wrong.
This critique of the Greek government’s policy in 2015 is not primarily meant to point out the respective responsibilities of Tsipras or Varoufakis as individuals. It is imperative to analyse the politico-economic orientation that was followed, so that we can ascertain the causes of failure, understand what could have been tried instead, and learn what a radical left-wing government can do in a country in the periphery of the Eurozone.
CADTM. 2015b. “Illegitimacy, Illegality, Odiousness and Unsustainability of the August 2015 MoU and Loan Agreements.” Oct 4, Retrieved October 10, 2019 (http://www.cadtm.org/Illegitimacy-Illegality-Odiousness).
CADTM. 2015c. “The Third Memorandum is Unsustainable just like the previous two.” Oct 1, Retrieved October 10, 2019 (http://www.cadtm.org/The-Third-Memorandum-is).
Dendrinou, Viktoria and Eleni Varvitsioti. 2019. The Last Bluff: How Greece came faceto-face with financial catastrophe & the secret plan for its euro exit. Athens: Papadopoulos Publisher.
Euro Summit Statement. 2015. Brussels, July 12, Retrieved October 10, 2019 (https://www.consilium.europa.eu/media/20353/20150712-eurosummit-statement-greece.pdf).
Konstantopoulou, Zoe. 2015. “Discours prononcé par Zoé Konstantopoulou, lors de son élection en tant que Présidente du Parlement hellénique.” Committee for the Abolition of Illegitimate Debt, Feb 14. Retrieved October 10, 2019 (http://www.cadtm.org/Discours-prononce-par-Zoe).
Kouvelakis, Stathis. 2015. La Grèce, Syriza et l’Europe néolibérale. Entretiens avec Alexis Cukier. Translated by CADTM. Paris: La Dispute.
New Left Project. 2015. “Syriza MPs revolt against the agreement.” New Left Project Feb 28, Retrieved October 10, 2019 (http://www.newleftproject.org/index.php/site/article_comments/syriza_mps_revolt_against_the_agreement?fbclid=IwAR2f_t9qVML1kJxTUMe2kG1Agl71IJ40lvgoHP3xuCXVzHHCPct7n5P0vh0).
Onaran, Ozlem. 2015. “Why Europe Needs A Debt Conference.” Committee for the Abolition of Illegitimate Debt, June 30. Retrieved October 10, 2019 (http://www.cadtm.org/Why-Europe-Needs-A-Debt-Conference).
Paumard, Emilie. 2015. “Audition de Panagiotis Roumeliotis (15 juin 2015), ex-représentant de la Grèce au FMI de mars 2010 à décembre 2011: «Il faut que les créanciers reconnaissent leurs responsabilités».” Committee for the Abolition of Illegitimate Debt, June 17. Retrieved October 10, 2019 (http://www.cadtm.org/Audition-de-Panagiotis-Roumeliotis).
Preliminary Debt Sustainability Analysis for Greece. 2015. Retrieved October 10, 2019 (https://web.archive.org/web/20150701094649/http:/www.referendum2015gov.gr/wp-content/uploads/2015/06/P.S.A.pdf).
Reforms for The Completion of the Current Program and Beyond. 2015. Retrieved October 10, 2019 (https://web.archive.org/web/20150701094650/http:/www.referendum2015gov.gr/wp-content/uploads/2015/06/REFORMS-FOR-COMPLETION-OF-CURRENT-PROGRAM-1.pdf).
Toussaint, Éric. 2015. “Eric Toussaint’s speech at the presentation of the preliminary report of the Truth Committee.” Committee for the Abolition of Illegitimate Debt, Aug 11. Retrieved October 10, 2019 (http://www.cadtm.org/Eric-Toussaint-sspeech-at-the).
Toussaint, Éric. 2017a. “ECB’s odious profits on the backs of the Greek people.” Committee for the Abolition of Illegitimate Debt, Oct 17. Retrieved October 10, 2019 (http://www.cadtm.org/ECB-s-odious-profits-on-the-backs).
Toussaint, Éric. 2017b. “Yanis Varoufakis’s Account of the Greek Crisis: A Self-Incrimination - Part One: Proposals Doomed to Fail.” Committee for the Abolition of Illegitimate Debt, Aug 24. Retrieved October 10, 2019 (http://www.cadtm.org/Yanis-Varoufakis-s-Account-of-the).
Toussaint, Éric. 2017c. “Varoufakis’s questionable account of the origins of the Greek crisis and his surprising relations with the political class.” Committee for the Abolition of Illegitimate Debt, Sept 1. Retrieved October 10, 2019 (http://www.cadtm.org/Varoufakis-s-questionable-account).
Toussaint, Éric. 2018. “The Varoufakis-Tsipras Line was Doomed to Fail from the Word ‘Go’.” Committee for the Abolition of Illegitimate Debt, Feb 5. Retrieved October 10, 2019 (http://www.cadtm.org/The-Varoufakis-Tsipras-Line-was).
Varoufakis, Yanis. 2013. “A Modest Proposal for Resolving the Euro Zone Crisis.” Yanis Varoufakis: Thoughts for the post-2008 world. Retrieved October 10, 2019 (https://www.yanisvaroufakis.eu/modest-proposal/).
Varoufakis, Yanis. 2017. Adults in the Room: My Battle with Europe’s Deep Establishment. London: The Bodley Head.
Vivien, Renaud and Cécile Lamarque. 2011. “Suspending public debt repayments by legal means.” Committee for the Abolition of Illegitimate Debt, July 6. Retrieved October 10, 2019 (http://www.cadtm.org/Suspending-public-debt-repayments).
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