Greek Finance Minister Yanis Varoufakis resigns

Yanis Varoufakis announced on Monday morning he is resigning on Prime Minister Alexis Tsipras’ request. The finance minister triumphantly led his country to reject the eurozone’s latest set of austerity measures, but his firebrand style of politics has alienated many crucial European partners in the process.

On his blog, Mr Varoufakis wrote that he had been “made aware” that some members of the eurozone considered him unwelcome at meetings of finance ministers, “an idea the Prime Minister Alexis Tsipras judged to be potentially helpful to him in reaching an agreement”. Last week he infuriated Eurogroup members by accusing Greece’s creditors of using “terrorism” against the Greek people to intimidate them into accepting more austerity.

Yanis Varoufakis’ resignation comes after Greeks voted 62 per cent against the latest set of eurozone austerity terms, casting the country into uncharted waters and bringing it closer to a possible exit from the euro.

‘I shall wear the creditors’ loathing with pride’

Varoufakis pledged his continued support to the prime minister and his country, despite his resignation. “I consider it my duty to help 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.”