OH YES HE DID: Greek Minister of Red Ink Finance Minister Yanis Varoufakis Resigns
Posted: July 6, 2015 Filed under: Breaking News, Economics, Global, Politics | Tags: Alexis Tsipras, Antonis Samaras, Athens, AUSTERITY, Brussels, Coalition of the Radical Left, Country Financial, Economy of Greece, Greece, Greek language, International Monetary Fund, Prime Minister of Greece 1 Comment
After ‘No’ Vote Against Bailout, Yanis Varoufakis Steps Down
Greek Finance Minister Yanis Varoufakis resigned from his post Monday after Greek citizens voted to reject further austerity measures the day prior, the Associated Press reported.
“I shall wear the creditors’ loathing with pride.”
— Yanis Varoufaki
Varoufakis said he was told shortly after the voters rejected Sunday’s referendum regarding demands by international creditors to impose further austerity measures in exchange for a bailout package for its bankrupt economy, that the other eurozone finance ministers and Greece’s other creditors would prefer he not attend the ministers’ meetings.
Varoufakis issued an announcement saying Prime Minister Alexis Tsipras had judged that Varoufakis’ resignation “might help achieve a deal” and that he was leaving the finance ministry for this reason Monday.
Varoufakis is known for his brash style and fondness for frequent media appearances at the start of his tenure when the new government was formed in January. He had visibly annoyed many of the eurozone’s finance ministers during Greece’s debt negotiations.
“Soon after the announcement of the referendum results, I was made aware of a certain preference by some Eurogroup participants… for my ‘absence’ from its meetings; an idea that the prime minister judged to be potentially helpful to him in reaching an agreement. For this reason I am leaving the Ministry of Finance today,” Varoufakis wrote in a blog post, according to The Guardian.
“Like all struggles for democratic rights, so too this historic rejection of the Eurogroup’s 25th June ultimatum comes with a large price tag attached,” the post read, according to the Athenian newspaper Kathmerini.
“It is, therefore, essential that the great capital bestowed upon our government by the splendid NO vote be invested immediately into a YES to a proper resolution – to an agreement that involves debt restructuring, less austerity, redistribution in favour of the needy, and real reforms,” Varoufakis wrote.
He said the prime minister had judged it “potentially helpful to him” if he is absent from the upcoming meetings with Greece’s creditors.
“I shall wear the creditors’ loathing with pride,” he said, adding that he fully supports the prime minister and the government….(read more)
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