Yanis Varoufakis has plans for EU-wide movement

Former finance minister Yanis Varoufakis intends to form a pan-European movement in February, with the aim of “democratizing” Europe.

Varoufakis revealed his intentions in an interview that is due to be published on Thursday by Italian weekly magazine L’Espresso.

Varoufakis said he wants to show European voters that there is a third way between a return to the nation state and the “undemocratic structures” of today’s European institutions, according to a preview of the interview.

Varoufakis also argues that “draconian” nature of the measures lenders offered to Greece in the summer was aimed at preventing left-wing Podemos from winning Spain’s elections.

Varoufakis called on the new party, which came third in Sunday’s ballot, not to make too many concessions if it joins a governing coalition in Spain.

Varoufakis served as finance minister from January to July 2015, when he was replaced and then withdrew his support for the government.