Finance Minister Yanis Varoufakis denies that he is being distanced from negotiations, while the international press states that the reshuffling of the Greek government’s economic team is Prime Minister Alexis Tsipras’ way of breaking the deadlock with Greece’s international creditors. Asked about his new role in negotiations, Varoufakis said that he is the “chief of the political group for negotiations.”  The general belief, however, is that the new people at the helm of negotiations are Deputy Prime Minister Giannis Dragasakis and Deputy Foreign Minister Euclid Tsakalotos.

Tsakalotos is described as the polar opposite of Varoufakis, though he has good relations with Dragasakis. Oxford-educated Tsakalotos is considered low-key, world’s apart from the narcissistic and outspoken personality that Varoufakis has shown the world.

Dutch TV network RTLZ reported that Eurogroup Chief Jeroen Dijsselbloem had discussed Varoufakis’ removal in a conversation he had with Tsipras on Saturday, however the Radical Left Coalition (SYRIZA) government denied these press reports.

The official stand of the Greek government is that Varoufakis continues to be the finance minister and chairman of the political body on negotiations with foreign creditors that was set up on Sunday. He continues to enjoy the support and respect of the Greek government. The attacks targeting Varoufakis are seen as insidious and serving a specific purpose.

Despite government claims to the contrary, the international press describes the reshuffle in negotiations as a ‘demotion’ for Greece’s outspoken minister. Characteristic is a sketch by cartoonist Marian Kamensky showing Tsipras holding Varoufakis’ head with German Finance Minister Wolfgang Schaeuble stating: “I told you to distance him, not to behead him.”