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  • Former Greek Finance Minister Yanis Varoufakis speaks at the Brookings Institution in Washington, D.C., April 16, 2015.

    Former Greek Finance Minister Yanis Varoufakis speaks at the Brookings Institution in Washington, D.C., April 16, 2015. | Photo: Reuters

The former Greek finance minister announced the launch of left-wing, pan-European political movement DiEM25.

Greece's former finance minister, Yanis Varoufakis, traveled to Berlin on Tuesday to launch a pan-European grassroots political movement, in efforts to “democratize Europe.”

"The European Union is disintegrating, and it is doing so quite fast," Varoufakis told reporters ahead of the official evening launch of the Democracy in Europe Movement 2025, known as DiEM25.

Varoufakis also said there was a need to introduce a new governance system, arguing that the European Union Council, "makes the decisions and are not answerable to anyone."

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The priority of DiEM25 include the immediate increase in transparency at the highest levels of EU decision making along with structural reforms, such as the pursuit of policies that genuinely tackle the debt crisis, banking, inadequate investment, rising poverty and migration.

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Ahead of Tuesday’s launch, the former finance minister said that that the initiative must "bring everybody together including trade unions, the existing movements and so on," adding, "we must focus on those who are not listening to us today.”

Moving forward, the movement’s goal is to "convene a constitutional assembly where Europeans will deliberate on how to bring forward, by 2025, a fully fledged European democracy."

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