• Greek former finance minister is `interesting,' leader says
  • Varoufakis joins Piketty and Stiglitz in advising Labour party

Jeremy Corbyn said his U.K. opposition Labour Party is working with Greece’s former finance minister Yanis Varoufakis, who fought against the austerity imposed on his country.

“Varoufakis is interesting, because he has obviously been through all the negotiations,” Corbyn told his local newspaper, The Islington Tribune. He said Varoufakis had met Labour finance spokesman, John McDonnell, and would be advising Labour in “some capacity.”

McDonnell has been trying to boost his party’s economic credibility by recruiting leading economists including Joseph Stiglitz and Thomas Piketty as advisers. Stiglitz will this week address a Labour-hosted meeting on “Rewriting the rules of the market economy to achieve shared prosperity.” Varoufakis will give a lecture in the same series, but he will not joint the party’s panel of advisers, McDonnell’s office said.

During his brief time in office, Varoufakis became a global celebrity while angering fellow European Union finance ministers as he campaigned against EU-imposed budget cuts on Greece. Corbyn, who has set aside his opposition to EU membership since becoming Labour leader, said he thought the way Greece had been treated was “terrible.”

Before it's here, it's on the Bloomberg Terminal. LEARN MORE