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- Media reports are focusing on Euclid Tsakalotos, an Oxford-educated economist and current Greek economic relations minister, as a possible replacement for Varoufakis. 08:31 GMT - Loathing with pride - "Soon after the announcement of the referendum results, I was made aware of a certain preference by some Eurogroup participants, and assorted 'partners', for my… 'absence' from its meetings," Varoufakis, who had often clashed with creditors in negotiations over the past months, said on his blog after announcing his resignation on Twitter. Outspoken and flamboyant Varoufakis, who has sent tremors through the Eurogroup since his appointment in January with his refusal to bow to convention, said: "I shall wear the creditors’ loathing with pride".
Despite growing concerns about Athens' place in the eurozone, the single currency rallied after Greece's combative Finance Minister Yannis Varoufakis announced his shock resignation just hours after winning Sunday's referendum. Hong Kong plunged 3.18 percent, or 827.83 points, to 25,236.28 -- wiping out a 0.70 percent rise in the opening minutes that came on the coat-tails of the mainland gains.