The former Minister of Finance Yanis Varoufakis is expected to announce the foundation of a new Pan-European left wing political party that will oppose austerity.
According to a recent report in the European edition of Politico the name of the new party helmed by Mr. Varoufakis will be “Democracy in Europe Movement 2025” or DiEM25.
Mr. Varoufakis had previously hinted towards the formation of a political party in an interview he gave to Italian newspaper L’ Espresso, where he spoke of a movement that will have a radical goal, the “democratization of the European Union”.
