(VOVworld) – Greek Prime Minister Alexis Tsipras has announced his new cabinet with Yanis Varoufakis as Finance Minister and Panos Kammenos as Defence Minister.

The new government faces a huge challenge in its bid to tackle Greece’s economic woes.

Economist Varoufakis will have the tough job of leading talks about Greece’s 269-billion-USD debt with its 3 largest lenders: the International Monetary Fund (IMF), the EU, and the European Central Bank. Mr Kammenos is a member of the anti-bailout Independent Greeks party (ANEL), the right-wing junior partner of Tsipras’s Syriza party. Syriza has become the first left-wing party to come to power in Greece since World War II.