Meet the New Greek Finance Minister: What We Know About Euclid Tsakalotos

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Euclid Tsakalotos was appointed as the new Greek finance minister following the resignation of Yanis Varoufakis. The man replacing Varoufakis is also a member of the governing Syriza party and now the former minister for international economic affairs.

Tsakalotos has a huge bag of issues to deal with as the new finance minister. It will be his job to figure out the mess the country is currently in after the citizens of Greece rejected their creditors' bailout plan in a referendum. Sputnik takes a closer look at the new finance minister and how his appointment might affect the crisis-stricken Hellenic Republic.

Greek Finance Minister Yanis Varoufakis arrives for his press conference in Athens on July 5, 2015, after early results showed those who rejected further austerity measures in a Greek crucial bailout referendum were poised to win - Sputnik International
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The Rotterdam-born 55-year-old economist was educated in England. He received his undergraduate degree in Politics, Philosophy and Economics (PPE) at Oxford. Later Tsakalotos completed a PhD in economics, also at Oxford University.

Some critics argue that Tsakalotos has more in common with the political circles of Westminster, rather than those of average Greek citizens. His educational credentials certainly hint that.

After his graduation in 1989, Tsakalotos taught economics at the University of Kent for several years. In the mid-1990s, Tsakalotos returned back to his native Greece to continue his academic career, teaching economics at Athens University of Economics and Business and at the National and Kapodistrian University of Athens.

No supporters celebrate referendum results on a street in central in Athens, Greece July 5, 2015 - Sputnik International
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Tsakalotos decided to pursue politics in 2012. It's important to note that even before he became involved in Greek politics, Tsakalotos was a Syriza member for almost a decade.

The new finance minister is without a doubt an accomplished economist. He authored and co-authored several books and many academic papers on Greek economic policy and the Eurozone crisis. He certainly knows what he needs to do to save his country, well at least theoretically as most academics do.

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