Greek political leaders appoint new finance minister

New Greek finance minister announced following government meeting after resignation of previous minister Yannis Varoufakis

Photo by: Reuters
Photo by: Reuters

Updated Jul 28, 2015

Euclid Tsakalotos has been appointed finance minister of Greece following Yiannis Varoufakis resignation on Monday after Greeks refused to bow to the demands of the country’s creditors.

“The next finance minister will be someone you know,” said Yannis Varoufakis earlier today.

Tsakalotos was serving as the international economic affairs minister and was thought to be one of the most likely candidates to replace Mr. Varoufakis.

Tsakalotos had assisted Mr. Varoufakis in the past, serving as a negotiator for Greece in April. Prime Minister Alexis Tsipras has reportedly assigned him as Greece’s chief negotiator in Europe, with him attending the recent Eurogroup meetings alongside Varoufakis.

Greek Deputy Prime Minister Giannis Dragasakis and Minister of Economy, Infrastructure, Shipping and Tourism Giorgos Stathakis were also considered as candidates for the position.

However, discussions were running behind schedule. As the meeting to select a finance minister was in progress, it was briefly interrupted when Prime Minister Tsipras and Greek President Prokopis Pavlopoulos had a phone conference with French President Francois Hollande.

Who is Tsakalotos?

Euclid Tsakalotos studied Philosophy, Politics and Economics at Oxford University. He was born in Rotterdam and has worked as a lecturer at the University of Kent and University of Athens.

He was a strong candidate as he has been in the governing Syriza party for years and joined the Greek Parliament in 2012.

Tsakalotos successfully managed to take charge of bailout negotiations in April 2015 and is thought to be the brains behind Syriza's economic policy.

The result of the recent referendum suggests Greek public expects their government to take a tough stance in discussions and reach an agreement with its creditors while also looking out for Greece’s future.


TRTWorld and agencies