The Financial Times cover story, titled “Outspoken Varoufakis sidelined as investors welcome Athens shake up” , focuses on the Greek government reshuffle of its economic team after Finance Minister Yanis Varoufakis was sidelined following three months of fruitless talks that failed to release 7.2 bln euros in bailout funds benchmarked for Greece.

Eurozone officials were pleased with the move following the Friday’s Eurogroup meeting that ended in acrimony with the Greek finance minister called a time waster, amateur and gambler by his counterparts.

The Athens stockmarket also reacted positively, rising by nearly 4.4%.

The Financial Times points to Eurozone officials statements of growing divisions within Greece’s Radical Left Coalition government with a distancing between Prime Minister Alexis Tsipras and Varoufakis in recent weeks.

The Socialist opposition PASOK party likened the move to “emasculating Varoufakis” while indicating the government’s political will for an agreement with the EU and IMF.