Greek FM resign as concession to creditors ( VIDEO )

ATHENS:
Greek's finance minister Yanis Varoufakis
resigned Monday in what appeared to be
a concession by Prime Minister Alexis Tsipras
to international creditors after his resounding
victory  in a historic bailout referendum,

The shock  announcement came as European
leaders scrambled for a response after Greek
voters said a resounding NO" to further austerity
measures in return for bailout funds in referendum
that could see the country crash out of the
eurozone,

"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 meeting"
Varoufakis who had often clashed with creditors
in negotiations over the past months said on
his blog,

It was an idea that the Priime Minister jjudged
to be potentially helpful to him in reaching an
agreement ,For this reason I am leaving the Minister
of Finance today he said,

The euro rose after Varoufakis 's announcement
which was expected to renew hopes that the creditors
the FCB the E C and the International Monetary
Fund IMF could be persuaded back to the negotiating
table despite the country's decisive rejection of the
reforms they were demanding in return for the release
of the final tranche of bailout funds.

In Asian trade,the single currency held up against
the dollar,after dropping in the  immediate  wake
of the vote,
Tsipras said the creditors would now finally have
to talk about restructuring the massive ,240 -billion(
-euro ($267billion)debt Greece owes them--AFP