Debt crisis Greece swears in new finance minister tonight

His first task will be to approve a two-day extension to Greece’s capital controls.

  • Published:
Euclid Tsakalotos play

Euclid Tsakalotos

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The Greek government has announced that the new finance minister, Euclid Tsakalotos, will be sworn in by the Greek president at 8pm this evening (6pm BST).

The move will allow the Oxford-educated economist to attend tomorrow’s eurogroup meeting and present Greece’s case.

His first task will be to approve a two-day extension to Greece’s capital controls.

In an attempt to avoid financial panic, banks have been shut for a week. Greek banks will not open until July 7 after ECB capped the emergency funds keeping them running.

The son of a civil engineer who worked in the well-heeled world of Greek shipping, Tsakalotos was born in Rotterdam in 1960. When his family relocated to London, he was immediately enrolled at the exclusive London private school St Paul’s. A place at Oxford, where he studied PPE, ensued. The hurly burly world of radical left politics could not have been further away.

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