The ex-Greek finance minister, who opposed deep austerity imposed by Brussels and Berlin, is to stand in the European elections next year. Announcing the run, Varoufakis said it was time for a European Spring.
Image: picture-alliance/dpa/P. Zinken
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Former Greek finance minister Yanis Varoufakis has announced he will stand in next May's European elections — representing Germany.
At a press conference in Berlin on Sunday, Varoufakis accepted the nomination on behalf of the Democracy in Europe Movement 2025 (DiEM25), which he launched in 2016 to "democratize" the continent.
As the economist spoke, his colleagues unfurled a banner with the slogan "European Spring" — a reference to the democracy movements that swept the Arab world from 2010.
Varoufakis insisted he meets the requirements for representing Germany, including that nationals of other European Union countries have a residence in Germany.
Varoufakis was outspoken in his opposition to the deep reforms and austerity measures imposed on Greece by its creditors after the country veered perilously towards bankruptcy and nearly crashed out of the euro currency.
He frequently clashed with his hardline German counterpart at the time, Wolfgang Schaeuble, who backed the painful medicine for Greece in an attempt to push the country back from the brink of default.
Political center threatened
Following the recent rise of the far-right Alternative for Germany (AfD) party, Varoufakis said the political center in Germany was under threat because of austerity.
"On paper, Germany is drowning in money ... but the German people have been victims of the same austerity as the rest of Europe. The result is low levels of investment," he said.
This, he argued, boosted inequality, share prices, and real estate prices.
He said his movement wanted to pour cash, raised if necessary via bond issuance, into green policies to tackle climate change.
Candidates for European Commission president
Germany's Manfred Weber, the conservative candidate, is considered the front-runner in the race to lead the European Commission. DW takes a closer look at him, and his main rivals.
Image: picture-alliance/dpa/F. Seco
Manfred Weber (EPP)
The center-right European People's Party (EPP) — the largest faction in the European Parliament — has picked Manfred Weber, its German parliamentary party leader. He has the backing of Chancellor Angela Merkel. Though considered the front-runner, Weber is little known on the international stage, and his language skills are considered poor.
Image: Reuters/V. Kessler
Frans Timmermans (S&D)
Frans Timmermans, the European Commission's first vice president, will lead the campaign for the Progressive Alliance of Socialists & Democrats (S&D). Weber's main rival promises to bring the bloc closer to ordinary voters at a time when Britain's looming exit is one factor behind the nationalist movements across the EU.
Image: Reuters/F.Lenoir
Margrethe Vestager (ALDE)
Margrethe Vestager, 51, is one of seven lead candidates for the Alliance of Liberals and Democrats. As the current EU commissioner for competition, the Danish MEP has taken on corporations like Apple, Amazon and Google parent Alphabet. It's also been said that she served as the inspiration for the main character in <i>Borgen</i>, a Danish series where a woman becomes Denmark's first female leader.
Image: Reuters/Y. Herman
Jan Zahradil (ECR)
The third-largest group in the EU Parliament, the European Conservatives and Reformists (ECR), has just one candidate: Jan Zahradil, chairman of the Czech ECR delegation. Zahradil, 65, is affectionately known as "Forrest Gump" for cycling from Prague to Strasbourg for a session of the European Parliament and for once running 1,300 kilometers (about 800 miles) across the Czech Republic for charity.
Image: imago/Belga
Ska Keller (Greens/EFA)
The Greens/EFA is the seventh largest group in European Parliament, so the German is a long shot to become European Commission president. The Greens have proposed a job share, with two candidates serving for two-and-a-half years each. The most favorite to join Keller is Dutch lawmaker Bas Eickhout.
Image: European Green Party
Violeta Tomic and Nico Cue (GUE/NGL)
The EU's left-wing groups will be headed by Spanish trade unionist Nico Cue and Violeta Tomic (at left). Tomic is a deputy in Slovenia's National Assembly, best known as a TV presenter and actress. She entered into politics in 2014 and has been an advocate for LGBT rights and stronger citizens' rights in Europe. Cue grew up in Belgium after his family was forced to flee Franco's Soain.
