Euclid Tsakalotos Appointed New Greek Finance Minister

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Euclid Tsakalotos, Greece's Alternate Foreign Minister for International and Economic Relations, has been appointed the country's new finance minister, local media reported Monday.

Greek Finance Minister Yanis Varoufakis is surrounded by media as he leaves a polling station during a referendum in Athens, Greece July 5, 2015 - Sputnik International
Varoufakis Resignation is a Result of European Pressure – Greek Politician
MOSCOW (Sputnik) — According to the Skai radio, Tsakalotos, who headed Greece's negotiation team in talks with the creditors, will be sworn in soon, replacing Yanis Varoufakis.

Varoufakis announced his resignation on Monday, a day after more than 61 percent of Greek voters rejected in a referendum the proposals of the country's creditors over the financial aid in exchange for economic austerity measures.

The outgoing minister explained his decision, saying he felt that a new Greek negotiator at talks with Eurozone finance ministers would help break the current impasse.

Athens and its major creditors – the International Monetary Fund (IMF), the European Central bank (ECB) and Eurozone countries – have been unable for months to agree on the terms of a new bailout package for cash-strapped Greece, leaving it on the brink of a euro exit.

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