'Mr. Euro' Named New Greek Finance Minister

Yannis Stournaras considered liberal, reform-minded economist
By Mark Russell,  Newser Staff
Posted Jun 26, 2012 7:18 AM CDT
Updated Jun 26, 2012 8:03 AM CDT
This May 22, 2012 file photo shows Yannis Stournaras leaving from Premier's office at Maximos Mansion. Stournaras was named the country's new finance minister earlier today.   (AP Photo/Eurokinissi, Giannis Panagopoulos,File)

(Newser) – It's "Mr. Euro" to the rescue. Yannis Stournaras, a key figure who helped negotiate Greece's entry into the eurozone, has been named Greece's new finance minister, reports Reuters. Stournaras replaces Vassilis Rapanos, who resigned from the finance minister position due to health reasons just days after being named to the post. It is unknown, however, if Stournaras will attend the European summit on Thursday and Friday; for the moment, the outgoing finance minister is expected to attend instead.

The 55-year-old Stournaras is an economics professor at the University of Athens and headed the finance ministry's Council of Economic Advisors for several years. He is described as a liberal economist who wants to open the Greek economy and make it more competitive. “Stournaras is a serious, respected person who will inspire some confidence in the markets. But he is entering a bad government, where many old-style, spendthrift politicians are occupying key positions,” said one analyst.

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