This is an occasional series on who is losing their job amid the European debt crisis, and who is replacing them.
Yannis Stournaras is Greece’s new finance minister – appointed after his predecessor resigned less than a week into the job on health grounds. The 55-year-old former head of Greece’s Emporiki Bank SA was an aide to the Greek prime minister Costas Simitis when the country negotiated its entry to the euro, earning himself the nickname of Mr. Euro, according to the BBC. Stournaras is one of the people who is called by the European Union and the International Monetary Fund when they want to know the real state of the economy, the New York Times reports. Stournaras, who did postgraduate studies at Oxford, has been professor of economics at Athens University since 1989, according to the website of the Foundation for Industrial and Economic Research in Athens, of which he is director general. During the 1980s and 1990s Stournaras worked as an adviser to the finance minister and at the Greek central bank — his profile echoes much of what his predecessor has done.
Vassilios Rapanos resigned as Greece’s finance minister on health grounds before he had officially assumed the role. Rapanos, chairman of National Bank of Greece SA, the country’s largest lender, studied at the Athens School of Economics and Queen’s University in Canada. He has worked for the ministry of economy and served as governor of the National Mortgage Bank of Greece – he was another adviser to Costas Simitis when Greece joined the euro in 2001. The 64-year-old was jailed by the military dictatorship for four-and-a-half years in 1969 because of his membership in a left-wing resistance group, BusinessWeek reports. He has also worked at the Foundation for Industrial and Economic Research in Athens, where his successor is director general.