Papademos Is Greece's New Prime Minister

World | November 10, 2011, Thursday // 14:11|  views

Former European Central Bank vice-president Lucas Papademos will be Greece`s new interim prime minister, the semi-state Athens News Agency said. EPA/BGNES

Former European Central Bank Vice President Lucas Papademos has been picked to head the new coalition caretaker government of Greece.

Former European Central Bank Vice-President Lucas Papademos will be Greece`s new interim prime minister, the semi-state Athens News Agency announced Thursday afternoon, shortly after Papademos joined Greek political leaders at power-sharing talks.

The interim government in Greece is being formed to make sure the country gets its latest bailout payment and to approve a new EUR 130 B international rescue package from the EU and the International Monetary Fund.

Papademos, a former ECB vice president who is not a member of any party, joined the talks two hours after the meeting started between Socialist Prime Minister George Papandreou and conservative opposition leader Antonis Samaras.

Papandreou agreed to resign on Sunday after a tumultuous week of calling off the referendum and then winning the confidence vote on Friday. His next goal is to built the interim coalition government which is faced with the task of approving the EU bailout to avoid bankruptcy.

The two major tasks of Greece's caretaker government will be to get through the ratification of the country's second international bailout agreement with the EU and the IMF and to set the stage for new general elections, most likely to be held in late February or early March 2012 (February 19 has been mentioned as a possible date).

The new government of Greece will be sworn into office on Friday, November 12, at 2 pm local time.

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Tags: Lucas Papademos, greece, Greek Prime Minister, ECB, European Central Bank, euro zone eurozone, debt crisis, debt crises, EU, IMF, bailout, bailout loan


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