Greece ‘s Finance Minister, Yanis Varoufakis has resigned despite indicating earlier that he would only resign if citizens voted for yes over the weekend referendum.
Varoufakis was viewed by other European countries as a hardliner; his resignation could be one of the compromises the country has to make to get back to the negotiating table with the Eurozone. Varoufakis confirmed concerns by other European countries through his blog.
"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," wrote Varoufakis on his blog.
The outspoken minister, expected to leave the ministry today has offered to continue supporting the governing party. Meanwhile, major markets have negatively responded to Greece’s weekend No vote.