Tsakalotos is new Greek finance minister after Varoufakis steps down
July 7 , 2015
Euclid Tsakalotos, Greece’s chief negotiator for the bailout talks, has been named as the country’s new finance minister. He replaced Yanis Varoufakis, who resigned from the post on Monday.
Tsakalotos’s appointment is being seen as an attempt to reduce friction during fresh talks on a possible rescue package for Greece following Sunday's referendum in which a majority of voters rejected the international lenders’ previous bailout terms.
Varoufakis’s poor personal relations with other finance ministers in the eurozone had become an open secret, something the outgoing finance minister himself acknowledged in a blog post.