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Greece's finance minister Yanis Varoufakis resigns: statement in full

'I shall wear the creditors’ loathing with pride'

Published 06/07/2015

Former Greek finance minister Yanis Varoufakis faces a barage of media questions as he leaves the finance ministry after resigning this morning on July 6, 2015 in Athens, Greece. (Photo by Christopher Furlong/Getty Images)
Former Greek finance minister Yanis Varoufakis faces a barage of media questions as he leaves the finance ministry after resigning this morning on July 6, 2015 in Athens, Greece. (Photo by Christopher Furlong/Getty Images)

Greece's finance minister Yanis Varoufakis resigned claiming he was forced to do so when the creditors demanded his absence from future talks.

This is his statement in full.

The referendum of 5 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 25 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.

Outgoing Greek Finance minister Yanis Varoufakis leaves onto his motorcycle with his wife Danai after his resignation at the ministry of Finance in downtown Athens on July 6 2015. AFP/Getty Images
Outgoing Greek Finance minister Yanis Varoufakis leaves onto his motorcycle with his wife Danai after his resignation at the ministry of Finance in downtown Athens on July 6 2015. AFP/Getty Images
ATHENS, GREECE - JULY 06: Former Greek finance minister Yanis Varoufakis faces a barage of media questions as he leaves the finance ministry after resigning this morning on July 6, 2015 in Athens, Greece. Politicians in Europe and Greece are planning emergency talks after Greek voters rejected EU proposals to pay back it's creditors creating an uncertain future for Greece. (Photo by Christopher Furlong/Getty Images)***BESTPIX***
TOPSHOTS Greece's maverick finance minister Yanis Varoufakis, who announced his surprise resignation leaves the Ministry of Finance with his wife Danai on the back of a motorbike downtown Athens, on July 6 2015. Germany dismissed Greece's bid to clinch a quick new debt deal after the country delivered a resounding 'No' to more austerity, appearing little moved by the surprise resignation of the Greek finance minister. AFP PHOTO / ANDREAS SOLAROANDREAS SOLARO/AFP/Getty Images
Outgoing Greek Finance Minister Yanis Varoufakis leaves the finance ministry in Athens, on July 6, 2015. Varoufakis resigned in what appeared to be a concession by Prime Minister Alexis Tsipras to international creditors after his resounding victory in a historic bailout referendum. All eyes turned to the European Central Bank on July 6, following the resounding 'No' in Greece's referendum, as it is seen as the only institution capable of stemming market panic and preventing the Greek economy from collapsing. AFP PHOTO/ LOUISA GOULIAMAKILOUISA GOULIAMAKI/AFP/Getty Images
Outgoing Greek Finance minister Yanis Varoufakis leaves onto his motorcycle with his wife Danai after his resignation at the ministry of Finance in downtown Athens on July 6 2015. Varoufakis resigned in what appeared to be a concession by Prime Minister Alexis Tsipras to international creditors after his resounding victory in a historic bailout referendum. AFP PHOTO / LOUISA GOULIAMAKILOUISA GOULIAMAKI/AFP/Getty Images
Outgoing Greek Finance Minister Yanis Varoufakis answers to journalists as he leaves the finance ministry in Athens on July 6, 2015. Varoufakis resigned in what appeared to be a concession by Prime Minister Alexis Tsipras to international creditors after his resounding victory in a historic bailout referendum. AFP PHOTO/ LOUISA GOULIAMAKILOUISA GOULIAMAKI/AFP/Getty Images

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