Greek Finance Minister Yanis Varoufakis resigned Monday, saying he would “wear the creditors’ loathing with pride,” in a blog post published after Sunday's "No" vote on an international aid deal that would have brought more austerity measures to Greece. His resignation was intended to help move along discussions with creditors to address Greece's debt crisis.
Varoufakis was appointed finance minster by Prime Minister Alexis Tsipras in January 2015. He is now one of shortest-serving finance ministers for a European country, the Wall Street Journal reported.
European Union officials had said it had become “impossible” to do business with Varoufakis. “It had got to the point where eyes roll,” one official told the Guardian. “People had got sick and tired of being lectured about austerity and the effects of the crisis. Any sympathy for Greece was eroded by his failure to draft concrete proposals.”
Varoufakis was praised on Twitter Monday for his tough talk against Brussels.
— Ben Berkowitz (@BerkowitzBT) July 6, 2015
— openDemocracy (@openDemocracy) July 6, 2015
I admit it. I'm gonna miss Varoufakis a little bit *cough* #mancrush *cough*
— American EU Dude (@AmericanEUDude) July 6, 2015
Varoufakis' resignation on his blog was written in English and was titled: "Minister No More!" It is posted below in its entirety:
"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."