Yanis Varoufakis

Greece is on course to economic recovery after reaching the end of its third bailout in eight years next month, but SYRIZA's first term in power with then finance minister Yanis Varoufakis cost the country "billions," European Stability Mechanism (ESM) chief Klaus Regling said.

Yanis Varoufakis, Greece's former finance minister who transfixed Europe with his unconventional style at the climax of the debt crisis, launched a new party on Monday promising to free his country from debt bondage.

Former Greek finance minister Yanis Varoufakis has revealed the name of the political party he is forming in Greece.

He wrote on his personal website that the party will be called MeRA25 (an acronym for European Realist Disobedience Front), which will be an offshoot of the pan-European movement DiEM25, which he helped set up.

The first six months of the SYRIZA-Independent Greeks government in 2015 didn't just cost Greece 100 billion euros, but "probably twice as much," the former head of the Euro Working Group, Thomas Wieser, told Dutch newspaper De Volkskrant in an interview.

The Democracy in Europe Movement 2025 (DiEM25), founded by former Greek finance minister Yanis Varoufakis, has started a crowdfunding campaign ahead of launching a fully-fledged Greek political party on March 26.

Ex-finance minister Yanis Varoufakis has said he asked Alexis Tsipras whether he was "completely stupid" after the Greek prime minister agreed to a demand by international creditors in 2015 for large primary surpluses.

Former Greek finance minister Yanis Varoufakis and a German parliamentarian are suing the European Central Bank to gain access to a document underpinning the ECB's decision to freeze vital funding to Greek banks in 2015.

Former finance minister Yanis Varoufakis has said he will run in Greece's next general election.

Speaking on Antenna TV on Friday, Varoufakis said a conference of his Democracy in Europe Movement 2025 (Diem25) will take place in Greece in February to prepare for the launch of the new grouping.

Wednesday was another victory lap for Yanis Varoufakis on his seemingly endless European book tour.

The European Court of Auditors (ECA) insists it had the right to look into the role of the European Central Bank in Greek bailouts, based on the Lisbon Treaty and a European Parliament resolution, and is now seeking ways to access the documents the ECB has refused to hand over.