Greek Finance Minister Yanis Varoufakis announced his resignation on Monday, a day after Greeks delivered a resounding 'No' to the conditions of a rescue package. In a statement, Varoufakis said he had been "made aware" that some members of the euro zone considered him unwelcome at meetings of finance ministers. The euro fell sharply on Monday (local time) in Asia-Pacific trading after the vote against austerity measures demanded in return for bailout money. The Greek government said 61.3 percent of those voting in the referendum had backed the government's Syriza party and rejected the bailout conditions. "This does two things: it legitimizes the stance of the Greek government and it leaves the ball in Europe's court," ANZ Bank analysts said in a note. "Europe either folds or Greece goes bankrupt; over to you Merkel." The next step was unclear, with Greek Prime Minister Alexis Tsipras saying his government had a mandate to reach a viable solution and was ready to resume talks, while Germany and France were seeking a euro zone summit on Tuesday. The euro initially fell about 1.4 percent against its U.S. counterpart but trimmed its losses slightly to last trade at $1.0992.
