Euclid Tsakalotos
Bloomberg—Bloomberg via Getty Images
By Fortune
July 6, 2015

Greece’s top negotiator in aid talks with creditors, Euclid Tsakalotos, will be sworn in as finance minister on Monday after the resignation of Yanis Varoufakis, a Greek presidency source told Reuters.

“Tsakalotos will be sworn in with the political oath as finance minister,” the presidency official reportedly said in a statement.

Earlier Monday, former Greek finance chief Yanis Varoufakis resigned under pressure from his government and Greece’s creditors. They had seen him as an obstacle to talks on a new bailout after voters rejected lenders’ terms in a referendum on Sunday.

For more on Tsakalotos’ colorful predecessor, read These 7 Yanis Varoufakis quotes show why we’ll miss him.

Contact us at editors@time.com.

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