ATHENS, Greece — Euclid Tsakalotos is set to become Greece's new finance minister, replacing outgoing Yanis Varoufakis.

The Greek news media is reporting that Tsakalotos will shortly be confirmed in the position, and Varoufakis himself hinted Tsakalotos would take the job, saying, "I hope so," when asked whether Tsakalotos would be the next finance minister.

Tsakalotos has an enormous pile of issues to deal with, even more than Varoufakis had when he started in January.

It will be Tsakalotos' job to negotiate a deal with Greece's creditors after the latest one was comprehensively rejected by the Greek people in Sunday's referendum, a huge triumph for the "no" campaign backed by the government.

All that while banks are shuttered and capital controls are in place — Greeks can withdraw just €60 ($66.33 or £42.62) from their bank accounts each day. Without a deal and further assistance from the European Central Bank soon, the little physical cash left will run out.

What's more, Varoufakis had told Greeks that banks would reopen Tuesday, something that is probably impossible.

But what else should people know about Tsakalotos?

For starters, he has spent much of his life in the UK. Though he is about as far from the British Conservative party as one could be in European politics, he does share something with UK Chancellor George Osborne — they both went to St. Paul's, the elite London private school.

There was no crossover, because Tsakalotos is 11 years older than Osborne.

He went on to study Politics, Philosophy, and Economics (PPE) at Oxford, the degree beloved by UK members of parliament. Like Varoufakis, he is a trained economist, with a Ph.D. in the subject, also from Oxford.

After an academic career he entered the Greek parliament in 2012, unlike Varoufakis, who came in less than six months ago, so he has a little bit more experience of the political wrangling that might be useful. In fact, until Varoufakis' sudden elevation, many expected that Tsakalotos would be Prime Minister Alexis Tsipras' pick as finance minister.

This January, when the election was actually won by Tsipras' Syriza party, Tsakalotos became alternative foreign minister, a role that seems to largely involve economic affairs.

Yanis Varoufakis, then Greece's finance minister, with Tsakalotos in Athens, Greece, on April 3. REUTERS/Alkis Konstantinidis At the end of April he took on more responsibility for Greece's negotiations with the country's Eurogroup creditors, a move that was seen as sidelining Varoufakis, who was becoming increasingly unpopular with his European colleagues.

Tsakalotos was appointed to head a "political negotiating team" at the time, which should have given him some direct experience with the negotiations.

Mujtaba Rahman of Eurasia Group said at the time that Tsakalotos' better understanding of Syriza as a movement would be an asset:

Tsakalotos, unlike Varoufakis, is a respected Syriza party member with deep ties to the party. He will therefore know how to operate within the party framework and his appointment will be critical to bridge the gap between the difficult reforms the government will be forced to implement and the objections raised within Syriza as a deal gets closer.

Though Tsakalotos' politics seem, at least from the perspective of the Eurogroup, largely similar to his predecessor's, the Eurogroup may find him easier to deal with — it was Varoufakis' personal style that many found jarring. There have been no similar complaints about Tsakalotos, though Telegraph journalist Ambrose Evans-Pritchard calls him "more hardline." Neither are anti-euro, as some of Syriza's left are.

He has written extensively about the Greek political and economic crisis, including this paper in 2010 and a piece in 2011 addressing three myths about the situation.

On Monday morning he denied that Greece was about to introduce a sort of parallel currency to get around its cash crisis — a taste of the sort of problems he will face in the weeks ahead.