Incoming Greek finance minister resigns his post
Source: Agencies |
June 26, 2012, Tuesday
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GREECE'S designated finance minister resigned yesterday after being rushed to the hospital last Friday, the prime minister's office said.
Vassilis Rapanos, chairman of the National Bank of Greece, had been named finance minister last week in the country's new three-party coalition government. But he was taken ill before he could be sworn in on Friday and has been in hospital ever since. Rapanos has sent a letter of resignation to Prime Minister Antonis Samaras and that was accepted.
The startling development came as Germany tamped down expectations that this week's European Union summit would emerge with any significant action on Greece as the debt-strapped nation's two key politicians struggled with health problems.
Samaras himself was released from hospital yesterday after undergoing eye surgery to repair a detached retina over the weekend, but will have to stay home for several days and won't be able to travel to Brussels for the EU summit. He was still planning to speak by telephone later with United States President Barack Obama.
The EU summit on Thursday and Friday comes just a week after Greece's new coalition government was formed following months of political turmoil and two inconclusive elections. It was to have been a key test of Athens' hopes of renegotiating some of the austerity measures it has agreed to in return for billions of euros in rescue loans from the International Monetary Fund and other European Union nations that use the joint euro currency.
It was to have been preceded by a visit to Athens starting today of Greece's debt inspectors, known as the troika - representatives from the European Commission, the European Central Bank and the IMF. But that visit was postponed until Samaras and Rapanos can recover.
Rapanos remained in hospital after being admitted on Friday complaining of severe abdominal pain, dizziness and nausea. The hospital said he would be released today but did not elaborate.
Without the troika report on Greece's progress in economic reforms required by its international bailout, Germany said it would be premature to expect any new decisions this week. Samaras has been pressing Greece's creditors to revise the bailout deal, which is despised by many Greeks.
"The troika needs to go to Athens, they need to assess the status of the program, then they need to brief the eurozone and IMF leadership," said Steffen Seibert, the spokesman for German Chancellor Angela Merkel. "That's why we don't expect any sort of a resolution on Greece at the EU council."
Greece will still be present at the EU summit, sending a delegation with outgoing Finance Minister Giorgos Zanias, one of the key negotiators in Greece's bailout agreement. As Rapanos fell ill before he could be sworn in, Zanias still holds the title. It was unclear when the postponed troika visit would take place.
"First, our concern is for the health of the prime minister and finance minister," EC spokesman Amadeu Altafaj Tardio said in Brussels, adding debt inspectors would head to Greece "as soon as possible."
Vassilis Rapanos, chairman of the National Bank of Greece, had been named finance minister last week in the country's new three-party coalition government. But he was taken ill before he could be sworn in on Friday and has been in hospital ever since. Rapanos has sent a letter of resignation to Prime Minister Antonis Samaras and that was accepted.
The startling development came as Germany tamped down expectations that this week's European Union summit would emerge with any significant action on Greece as the debt-strapped nation's two key politicians struggled with health problems.
Samaras himself was released from hospital yesterday after undergoing eye surgery to repair a detached retina over the weekend, but will have to stay home for several days and won't be able to travel to Brussels for the EU summit. He was still planning to speak by telephone later with United States President Barack Obama.
The EU summit on Thursday and Friday comes just a week after Greece's new coalition government was formed following months of political turmoil and two inconclusive elections. It was to have been a key test of Athens' hopes of renegotiating some of the austerity measures it has agreed to in return for billions of euros in rescue loans from the International Monetary Fund and other European Union nations that use the joint euro currency.
It was to have been preceded by a visit to Athens starting today of Greece's debt inspectors, known as the troika - representatives from the European Commission, the European Central Bank and the IMF. But that visit was postponed until Samaras and Rapanos can recover.
Rapanos remained in hospital after being admitted on Friday complaining of severe abdominal pain, dizziness and nausea. The hospital said he would be released today but did not elaborate.
Without the troika report on Greece's progress in economic reforms required by its international bailout, Germany said it would be premature to expect any new decisions this week. Samaras has been pressing Greece's creditors to revise the bailout deal, which is despised by many Greeks.
"The troika needs to go to Athens, they need to assess the status of the program, then they need to brief the eurozone and IMF leadership," said Steffen Seibert, the spokesman for German Chancellor Angela Merkel. "That's why we don't expect any sort of a resolution on Greece at the EU council."
Greece will still be present at the EU summit, sending a delegation with outgoing Finance Minister Giorgos Zanias, one of the key negotiators in Greece's bailout agreement. As Rapanos fell ill before he could be sworn in, Zanias still holds the title. It was unclear when the postponed troika visit would take place.
"First, our concern is for the health of the prime minister and finance minister," EC spokesman Amadeu Altafaj Tardio said in Brussels, adding debt inspectors would head to Greece "as soon as possible."
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