Greek bailout negotiator Euclid Tsakalotos becomes Greece' new finance minister

Athens

Greece on Monday named economist Euclid Tsakalotos, its top negotiator in the stalled EU-IMF talks, as the country's new finance minister, the president's office said.

Greece's new finance minister Euclid Tsakalotos is as discreet and tight-lipped as his predecessor Yanis Varoufakis was flamboyant and confrontational. 

Tsakalotos, a 55-year-old leftist economist who had been a pointman in Greece's bailout talks, was named as Varoufakis' replacement hours after his resignation on Monday.

He is far less likely to irritate Athens' exasperated creditors. 

The Dutch-born, Oxford-educated economics professor and junior foreign minister had already taken over as the main negotiator in the bailout talks in April after it became clear Varoufakis was badly ruffling feathers and creating bad blood.

"It was a necessary step," a European source told AFP, explaining how relieved European officials were to see Tsakalotos at the table.

"The climate with Varoufakis was so poisoned that it was impossible to move forward," said an Athens-based economist, speaking on condition of anonymity. 

"Tsakalotos has a more low-key profile. At this stage it will be a considerable improvement."