Designated Greek finance min. resigns

The office of new Greek Prime Minister Antonis Samaras said on Monday that it had received a letter from Rapanos in which he said that he had accepted the appointment “in full knowledge of the problems faced by our economy and the responsibility I was undertaking,” but that “after discussion with my doctors, I reached the conclusion that the state of my health, currently, will not allow me to fully and adequately exercise my duties.”

A government spokesman said Rapanos’ resignation was accepted.

Sixty four-year-old Rapanos, who had served as the chairman of the National Bank of Greece, was named finance minister on June 21 in Greece’s new three-party coalition government.

He was rushed to hospital on Friday, before he could be sworn in, complaining of abdominal pain, nausea and dizziness. Greek media report he has had a history of poor health.

The resignation is an unexpected blow to the new government as it tries to get Greece’s creditors to ease harsh austerity terms linked to its multi-billion euro bailouts.

Greece has been at the epicenter of the eurozone debt crisis and is experiencing its fifth year of recession, while harsh austerity measures have left about half a million people without jobs.

One in every five Greek workers is currently unemployed, banks are in a shaky position, and pensions and salaries have been slashed by up to 40 percent.

Greek youths have also been badly affected and more than half of them are unemployed.

The delayed resolution of the eurozone debt crisis, which began in Greece in late 2009 and reached Italy, Spain, and France last year, is viewed as a threat not only to Europe, but also to much of the world’s more developed economies.

MN/MF/HJL

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