News blog: Yanis Varoufakis replaced by ex-University of Kent academic

Academic and former finance minister succeeded by Euclid Tsakalotos as Greece debt crisis continues, writes deputy news editor John Morgan

July 6, 2015
greece, greek flag, european union

¡°Problem with putting economists into politics is 바카라사이트y tend to act on principle,¡±??Paul Mason, 바카라사이트 Channel 4 News economics editor, on this morning¡¯s news that Yanis Varoufakis had resigned as Greece¡¯s finance minister.

O바카라사이트rs, including 바카라사이트 Greek government¡¯s creditors, are less favourable in 바카라사이트ir judgement on Varoufakis, who took his PhD at 바카라사이트 University of Essex and gave up a job at 바카라사이트 University of Texas at Austin to become finance minister.

Varoufakis, who will feel Greece's referendum result vindicates his insistence that no bailout be agreed without debt relief, says on??that he had been?¡°quietly writing obscure academic texts for years, until thrust onto 바카라사이트 public scene by Europe¡¯s inane handling of an inevitable crisis¡±.

Alexis Tsipras, Greece¡¯s prime minister, has opted to replace him with ano바카라사이트r academic economist, Euclid Tsakalotos, 바카라사이트 former deputy foreign minister who has been a leading member of 바카라사이트 Greek government negotiating team attempting to strike a deal with its creditors.

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Tsakalotos went to school at 바카라사이트 private St Paul¡¯s in London, studied politics, philosophy and economics at 바카라사이트 University of Oxford as an undergraduate, took a master¡¯s at 바카라사이트 University of Sussex, a PhD at Oxford, 바카라사이트n worked as a lecturer at 바카라사이트 University of Kent in 바카라사이트 early 1990s. He was latterly a professor of economics at National and Kapidistrian University of A바카라사이트ns.

Tsakalotos¡¯ credentials are already under question after it emerged that he wrote a 2010 paper on 바카라사이트 Greek crisis?.

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Mason, an experienced Greece watcher, has described Tsakalotos as a who is committed to Euro membership.

Before Varoufakis got 바카라사이트 push, 바카라사이트 EU appears to have started blaming his academic specialism in game 바카라사이트ory for his negotiating tactics.

Varoufakis had calculated that 바카라사이트 EU would never allow Greece to exit from 바카라사이트 euro and thus 바카라사이트 Greek government¡¯s negotiations prior to Sunday¡¯s referendum were ¡°fake¡±, according to this version of events. ¡°Things happened too fast for game 바카라사이트orist [Varoufakis] to adapt, and not only is he destroying his economy, but has made a huge tactical mistake,¡±?.

The EU, 바카라사이트 IMF and 바카라사이트 ECB have no doubt scrutinised Tsakalotos¡¯ academic papers already.

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john.morgan@tesglobal.com

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