Monday, July 6, 2015

Greece names new finance minister – FORTUNE

ATHENS (Reuters) – The chief negotiator for Greece’s international creditors, Euclid Tsakalotos, sworn in Monday as new finance minister following the resignation of Yanis Varoufakis said a source at the presidency.

“Tsakalotos present political oath as finance minister,” said an official at the presidency.

Varoufakis resigned Monday, which he removed an obstacle to achieving an agreement that will keep Athens in the eurozone, following a vote in which the Greeks were strongly in favor of supporting its Government in rejecting the terms of a bailout austerity.

Tsakalotos, an economist and mild-mannered professor will be appointed Finance Minister later.

Varoufakis had a particularly complicated relationship with his German counterpart, Wolfgang Shaeuble. When questioned by the output of Greek servant, a German government spokesman told reporters that policies matter more than people.

To achieve an agreement, Greece must overcome the mistrust of its partners, especially Germany, the largest creditor and the largest economy in the European Union, where public opinion has hardened in favor of Athens leave euro.

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