Labour party signs up former Greek finance minister Yanis Varoufakis to advisory role

James Nickerson
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Varoufakis recently launched his own political movement called DiEM 25 (Source: Getty)

Former Greek finance minister Yanis Varoufakis just couldn't stay away from the political arena. After having left his position in the government and started his own political movement, he's now taking a role advising the Labour party.

Supporting Her Majesty's Most Loyal Opposition, Varoufakis will be advising Labour in "some capacity" due to his experience in dealing with the European Union, according to Jeremy Corbyn.

"Varoufakis is interesting, because he has obviously been through all the negotiations [with ECB, European Commission and the International Monetary Fund]," Corbyn told his local paper, the Islington Tribune.

Read more: Is Labour hurting itself by campaigning to stay in the EU?

"I think the way Greece has been treated is terrible and we should reach out to them," he added.

Varoufakis has already set up his own political movement, known as the Democracy in Europe Movement 2025, which is aimed at reforming EU institutions.

And the economist has previously hit out at the democratic credentials of the EU, saying: "While I was representing Greece - the newly elected Greek government - in the Eurogroup as its finance minister, I was told in no uncertain terms that our nation's democratic process - our elections - could not be allowed to interfere with economic policies that were being implemented in Greece."

Read more: Varoufakis is launching his own political movement

The move comes after Corbyn met with Greek Prime Minister Alexis Tsipras to discuss EU reform and the European anti-austerity movement.

Though Corbyn is said to have previously harboured eurosceptic views, he will be campaigning to keep the UK in the EU.

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