In the legislative election on 25 January 2015, Syriza won a near-majority of seats, with 149 out of 300, and so formed a coalition with the right-wing anti-austerity party Independent Greeks.
Tsipras became prime minister and formed his cabinet on 27 January, appointing Tsakalotos as Alternate Minister for International Economic Relations, subordinate to the Minister for Foreign Affairs, Nikos Kotzias.
Tsakalotos described his role as follows: "[It] means coordinating our approach to promoting exports and attracting investment.
It also means upgrading our economic diplomacy which needs to go beyond traditional sectors, for instance exporting olive oil and importing capital goods."

Tsakalotos represented Syriza at the Sinn Féin ardfheis on 7 March 2015 and gave a speech on the conference floor, during which he said that both Sinn Féin and Syriza are "part of a great realignment in European politics" towards left-wing anti-austerity parties.
The leader of Sinn Féin, Gerry Adams, embraced Tsakalotos on the stage following the speech.
Tsakalotos then spent several hours afterwards in talks with senior members of Sinn Féin.
The Financial Times later commented on this, saying it was a "moment of bonding" between Syriza and Sinn Féin.

Tsakalotos began to gain a more prominent role in the renegotiations with Greece's creditors over a new bailout plan, which at the time were being led by Yanis Varoufakis, the Minister of Finance.
On 27 April, Tsakalotos was the made the coordinator of the Greek team negotiating with the creditor's representatives over this new bailout plan.
This move was largely seen as sidelining Yanis Varoufakis, the Minister of Finance, but the markets reacted positively.

In June 2015, lenders warned that time was running out for a deal to be agreed on a new bailout plan.
On 17 June, Tsakalotos warned that Greece would not be able to repay its €1.6bn loan from the IMF at the end of the month unless a new bailout plan was agreed.
The deadline for the renewal of Greece's bailout package was also looming at the end of June.
On 26 June, an emergency cabinet meeting led to the calling of a referendum on the bailout deal proposed by the creditors.
Capital controls and a bank holiday were announced on 28 June, with the Eurozone refusing an extension of the bailout plan and Greece defaulting on its loan to the IMF on 30 June.
In the legislative election on 25 January 2015, Syriza won a near-majority of seats, with 149 out of 300, and so formed a coalition with the right-wing anti-austerity party Independent Greeks. Tsipras became prime minister and formed his cabinet on 27 January, appointing Tsakalotos as Alternate Minister for International Economic Relations, subordinate to the Minister for Foreign Affairs, Nikos Kotzias. Tsakalotos described his role as follows: "[It] means coordinating our approach to promoting exports and attracting investment. It also means upgrading our economic diplomacy which needs to go beyond traditional sectors, for instance exporting olive oil and importing capital goods."
Tsakalotos represented Syriza at the Sinn Féin ardfheis on 7 March 2015 and gave a speech on the conference floor, during which he said that both Sinn Féin and Syriza are "part of a great realignment in European politics" towards left-wing anti-austerity parties. The leader of Sinn Féin, Gerry Adams, embraced Tsakalotos on the stage following the speech. Tsakalotos then spent several hours afterwards in talks with senior members of Sinn Féin. The Financial Times later commented on this, saying it was a "moment of bonding" between Syriza and Sinn Féin.
Tsakalotos began to gain a more prominent role in the renegotiations with Greece's creditors over a new bailout plan, which at the time were being led by Yanis Varoufakis, the Minister of Finance. On 27 April, Tsakalotos was the made the coordinator of the Greek team negotiating with the creditor's representatives over this new bailout plan. This move was largely seen as sidelining Yanis Varoufakis, the Minister of Finance, but the markets reacted positively.
In June 2015, lenders warned that time was running out for a deal to be agreed on a new bailout plan. On 17 June, Tsakalotos warned that Greece would not be able to repay its €1.6bn loan from the IMF at the end of the month unless a new bailout plan was agreed. The deadline for the renewal of Greece's bailout package was also looming at the end of June. On 26 June, an emergency cabinet meeting led to the calling of a referendum on the bailout deal proposed by the creditors. Capital controls and a bank holiday were announced on 28 June, with the Eurozone refusing an extension of the bailout plan and Greece defaulting on its loan to the IMF on 30 June.
Euclid Tsakalotos