Greece’s Finance Minister Yanis Varoufakis Resigns; Full Statement


Yanis Varoufakis has resigned from his post as Greece’s minister of finance, the economics professor and SYRIZA member announced.

Here is his full statement titled “Minister No More!” as it was posted on his site:

The referendum of 5th July will stay in history as a unique moment when a small European nation rose up against debt-bondage.

Like all struggles for democratic rights, so too this historic rejection of the Eurogroup’s 25th June ultimatum comes with a large price tag attached. It is, therefore, essential that the great capital bestowed upon our government by the splendid NO vote be invested immediately into a YES to a proper resolution – to an agreement that involves debt restructuring, less austerity, redistribution in favour of the needy, and real reforms.

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 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.

We of the Left know how to act collectively with no care for the privileges of office. I shall support fully Prime Minister Tsipras, the new Minister of Finance, and our government.

The superhuman effort to honour the brave people of Greece, and the famous OXI (NO) that they granted to democrats the world over, is just beginning.


  1. Varoufakis has been the best thing that has happened to Greece,,No other politician has done what he has done for Greece..Just because other European leaders do not like him..They can all go and jump…We do not like them but they will not resign…

  2. Watch out Stavros, Alexis and Fofi here comes a new party leader for Greece’s Left.

  3. Varoufakis, was NOT a college professor in the U.S. at the University of Texas. He was an editor ONLY of a student newspaper, at the Lyndon B. Johnson BRANCH campus of the University of Texas.

    Varoufakis, does not have the academic credentials to be a tenured U.S. college professor in the U.S.. He was educated in the U.K. which does not qualify in U.S. accredited colleges.

  4. Of course American universities recognise British academic qualifications. Don’t be silly. Varoufakis has a PhD from a UK university, taught at universities in Greece and Australia, and was a fellow at Cambridge.

  5. Wrong ! U.S. PHD curriculum are 8 years minimum. PHD curriculum in Greece are 6 years. Some colleges may accept a class as acceptable credit, but not the total curriculum.

    They must go through a U.S. curriculum. So you are wrong.

    I taught at the University of Miami as a T/A (teacher assistent) as a graduate (master) degree student (6 years college). My girlfriend of several years who was killed in a automobile accident WAS A CHEMISTRY COLLEGE PROFESSOR (8 year education/ PHD) at the State College of Florida University. So I know much better than you do what U.S. college requirements are regarding a professorship at a U.S. university.

  6. I say he was pushed out. Some in the Greek government couldn’t stand to be in the same room as him.