Varoufakis Resigns

July 6th, 2015
in econ_news

Econintersect:  Greek Finance Minister Yanis Varoufakis has followed the resounding victory for his government in the landslide victory which rejected the prooffered continued austerity required by the Troika Institution for continuation of the debt bailout of the Greek government.


Follow up:

Prof. Varoufakis told Econintersect:

"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."

In his posted statement Mr. Varoufakis said that he considered "it my duty to help Alexis Tsipras exploit, as he sees fit, the capital that the Greek people granted us through yesterday’s referendum".

His short statement concluded:

"I shall support fully Prime Minister Tsipras, the new Minister of Finance, and our government."

Econintersect: Technical understanding and direct speaking can be at odds with political diplomacy.


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