New finance Minister named whilst another minister resigns


The new Finance Minister has been named. He is Yannis Stournaras, 55, an Economics Professor at the University of Athens and a long-time adviser of the Greek Government and Ministry of Economics and Finance.

The new finance minister is described in the Athens News as a ‘liberal economist and an ardent supporter of structural reforms to open up the economy and make it more competitive.’

Stournaras has sat on a number of government agency boards, run an economic think tank and managed a security firm. He was Minister for Development, Competitiveness and Shipping from May 17 to June 21 in the caretaker administration.

In other news, as one new minister arrives another resigns. Deputy Shipping Minister George Vernicos was forced to resign yesterday after Syriza pointed out that he had a conflict of interest over his involvement in offshore companies. The opposition party pointed out that this was in contravention of a law which prohibited ministers from having involvement in offshore companies.

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