The opposition accused him of jeopardizing the country`s membership in the 19-nation club that uses the euro and said a "yes" vote was about keeping the common currency. Opposition leader Antonis Samaras announced his resignation after suffering a big defeat in Sunday`s referendum.
More from the hours after the initial projection was released
Greek Finance Minister Yanis Varoufakis said in his resignation statement that his decision was made to further the Greek peoples` cause.
"We of the left know how to act collectively with no care for the privileges of office," said Varoufakis, who had become a focal point for friction in meetings with Greece`s creditors.
He hailed the "no" vote in the referendum as a victory for democracy that would have global impact.
"The superhuman effort to honour the brave people of Greece, and the famous "oxi" ("no) that they granted to democrats the world over is just beginning," he said Monday morning.
No replacement has yet been named.
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