ATHENS – Former Greek finance minister Yanis Varoufakis, ousted by Prime Minister Alexis Tsipras from the Radical Left SYRIZA under pressure from international creditors, said the name of a new party he formed to seek power in the next elections will be called MeRA25.

He wrote on his personal website that it is an an acronym for European Realist Disobedience Front, which will be an offshoot of the pan-European movement DiEM25, which he helped set up, adding to the confusion and as he hasn’t explained what he wants.

He said the name was chosen “Because ‘mera’ in Greek translates into ‘day’, or ‘diem’ in Latin. And because Greeks have had enough of the long night of debt bondage to which they have been condemned for so many consecutive years.”

The party is due to be inaugurated in Athens on March 26, deliberately chosen to fall the day after Greek Independence Day in another shot at SYRIZA and Tsipras for surrendering to the Troika of the European Union-European Central Bank-European Stability Mechanism (EU-ECB-ESM) to get a third bailout, this one for 86 billion euros ($106.21 billion) the Premier said he would never seek nor accept because it came with more austerity.

Varoufakis turned to Crowdfunding to raise money for the new party, referred to as DiEM25 and take on SYRIZA in the next elections scheduled for 2019, as he continues to snipe at Tsipras.

Crowdfunding is the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet as a form of alternative financing of causes and projects.

“The time has come to found the Greek DiEM25 affiliate that will return the spirit of the Greek Spring to the country that gave birth to it,” DiEM25 said in a message posted on its website earlier in February.

“Despite what the Establishment says, there is an alternative to Greece’s – and Europe’s – current impasse,” it said, while a video urged people to “support constructive disobedience in Greece.”

New political parties in Greece, including two formed by dissidents from SYRIZA who broke off from Tsipras after similarly mocking him have failed to register in polls or garner enough support to pass the 3 percent of vote threshold needed to get into Parliament.

DiEM25 is scheduled to be launched on March 26, a day after the country’s Independence Day anniversary and celebrations that has seen governments try to keep away spectators in fear of more anti-austerity protests.

In a tweet in January when he talked of his new party, Varoufakis wrote of SYRIZA’s victory in 2015 and how he said Greeks were cast aside by Tsipras so that the Premier could stay in power at any cost.