STUDY IN CHINA

Monday, July 6, 2015

Greek finance minister resigns

Greek Finance Minister Yanis Varoufakis has resigned after Greek voters delivered an overwhelming “No” vote in a referendum on whether to accept more austerity measures in return for new bailout cash.

“Soon after the announcement of the referendum results, I was made aware of a certain preference by some Eurogroup participants, and assorted ‘partners’, for my… ‘absence’ from its meetings; an idea that the Prime Minister judged to be potentially helpful to him in reaching an agreement,” Varoufakis wrote on his personal blog.


“For this reason I am leaving the Ministry of Finance today.

“I consider it my duty to help [Prime Minister] Alexis Tsipras exploit, as he sees fit, the capital that the Greek people granted us through yesterday’s referendum. And I shall wear the creditors’ loathing with pride.”

Meanwhile, European Union leaders were scrambling for a response on Monday, following the overwhelming “No” vote in Sunday’s referendum.

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