Yanis Varoufakis quits as Greek finance minister after resounding win for ‘No’ vote in bailout referendum
His straight-talking style produced notable moments including his characterisation of the austerity imposed on Greece as “fiscal waterboarding”.
Yanis Varoufakis, Greece’s finance minister who resigned on Monday despite the government having secured a resounding victory in a weekend referendum, rose to fame and infamy this year for his urban-cool look, his abrasive style, and acerbic attacks on austerity.
In a shock announcement just hours after Sunday’s referendum results on bailout terms were announced, Varoufakis said he was quitting to help Prime Minister Alexis Tsipras in ensuing negotiations with creditors.
“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,” Varoufakis said on his blog.
During the past five months of negotiations between Athens and its international creditors, the self-described “erratic Marxist” seemed more at ease chatting with unemployed anarchists than with fellow European finance ministers, who often groaned about his blunt negotiating tactics.
European Economic Affairs chief Pierre Moscovici commented that Varoufakis “is a smart person, not always easy, but smart”.
His straight-talking style produced notable moments including his characterisation of the austerity imposed on Greece as “fiscal waterboarding”.