Greek finance minister quits to smooth talks after `No` vote

  • by VNBUSINESS
  • July 07, 2015

Greece`s outspoken finance minister resigned on July 6, removing a major obstacle to any deal to keep Athens in the euro zone after Greeks voted resoundingly to back the government in rejecting the austerity terms of a bailout.

Yanis Varoufakis, a self-proclaimed "erratic Marxist" economist who infuriated euro zone partners with his unconventional style and hectoring lectures, had campaigned for Sunday`s sweeping `No` vote, accusing Greece` creditors of "terrorism".

His sacrifice, after promising Greeks he would win a better deal within a day of their overwhelming referendum vote, suggested leftist Prime Minister Alexis Tsipras is determined to try to reach a last-ditch compromise with European leaders.

Greece`s chief negotiator in aid talks with international creditors, Euclid Tsakalotos, is the front-runner to become finance minister, a senior government official said.

A mild-mannered economist and professor, Tsakalotos had already taken over a prominent role in negotiations with lenders after Varoufakis was sidelined from the talks in April.

Source: VOV

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