Greece names new finance minister

Greece yesterday named economist Euclid Tsakalotos, its top negotiator in the stalled EU-IMF talks, as the country's new finance minister, the president's office said.

"Euclid Tsakalotos will take his oath of office at 1700 GMT today," it said.

Rotterdam-born and Oxford-educated Tsakalotos, 55, taught economics at Kent University in Britain between 1990 and 1993 before relocating to Athens.

The leftist economist and lawmaker of the ruling Syriza party replaces flamboyant fellow economist Yanis Varoufakis, who stepped down earlier Monday.

Tsakalotos had already become Greece's point man in the EU-IMF talks in April after Varoufakis was deemed too abrasive in his contacts with fellow eurozone finance ministers.

Meanwhile, International Monetary Fund chief Christine Lagarde yesterday said that the global crisis lender would assist Greece if asked, a day after Greek voters rejected a prior bailout plan.

"The IMF has taken note of yesterday's referendum held in Greece. We are monitoring the situation closely and stand ready to assist Greece if requested to do so," Lagarde said in a brief statement.

In Sunday's referendum, more than 61 percent of Greeks rejected creditor demands for further austerity in return for more bailout funds, a victory for the radical leftist Syriza's government.