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Varoufakis to stand in European elections in 2019

FORMER Greek finance minister Yanis Varoufakis is set to stand for election to the European Parliament in Germany next year.

He accepted the nomination of the Democracy in Europe Movement 2025 (DiEM25), which he helped found in 2016 in a bid to “democratise” the institution which crippled the Greek economy with a series of punitive measures as part of European Union bailout packages.

Unfurling a banner with the slogan “European Spring,” Mr Varoufakis told a press conference: “I call on all of you to join us in this pan-European quest for democracy in Europe, democracy in Germany as a condition for prosperity and authentic democracy.”

The economist, who served under the Syriza government in 2015, believes the EU can be transformed by increasing transparency and democratising its institutions, including through the live broadcast of meetings.

However critics insist that the EU is designed so it cannot be reformed to become more democratic with progressive politics requiring a break with the neoliberal institution.

European elections will take place in May next year.

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