Greek finance minister quits; ‘wears creditors’ loathing with pride’

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Yanis Varoufakis

Greek finance minister Yanis Varoufakis announced his resignation today after the No vote against bailout measures.

Mr Varoufakis outlined his reasons in a blog published this morning entitled ‘Minister No More!’, in which he refers to the “splendid NO vote” that saw Greeks reject a package of austerity measures from international creditors.

He said: “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. For this reason I am leaving the Ministry of Finance today.

“I consider it my duty to help (Prime Minister) 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.”

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