Greece has a new finance minister and they call him the 'big brain'

Greece's new finance minister Euclid TsakalotosAlkis Konstantinidis/ReutersGreece’s new finance minister Euclid Tsakalotos

Greece has a new finance minister following the resignation of Yanis Varoufakis early Monday.

The government announced on Monday that the new minister is Euclid Tsakalotos, who was previously minister of international financial relations. Tsakalotos has been leading negotiations with Greece’s creditors since late April, when it became clear that the Eurogroup had various problems with Varoufakis’s negotiating style.

Tsakalotos was one of just a few on a short list for the position. That list also included the economy minister, George Stathakis, according to Reuters.

It seems like the decision was an easy one. Tsakalotos is an Oxford-educated university professor, and has been described as the “‘big brain’ of economic policy” for Greece’s Syriza government.

In a farewell blog post, Varoufakis wrote, “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.”

NOW WATCH: Researchers are astonished by the unique sounds beatboxers are able to make

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.