While Greece was gripped by the “will he-won't he” thriller of Mr Theocharis' resignation, in Brussels there was disappointment and frustration by this development, causing “deep concern.”

Finance minister Yannis Stournaras and General Secretary of Public Revenues Haris Theocharis finally announced the latter's resignation after a five hour meeting.

Greece will overcome a first-quarter shortfall in tax income and meet its full-year targets as the economy recovers said Greece’s secretary general for public revenue to Bloomberg.