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Lucas Papademos named as new Greek prime minister | Lucas Papademos named as new Greek prime minister |
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Former European Central Bank vice-president Lucas Papademos has been named as Greece's new prime minister, following days of negotiations. | Former European Central Bank vice-president Lucas Papademos has been named as Greece's new prime minister, following days of negotiations. |
Mr Papademos, 64, said he was taking over at a "critical point" for Greece. | Mr Papademos, 64, said he was taking over at a "critical point" for Greece. |
Leaders of the three main parties making up a new government of national unity had been meeting the Greek president to try to reach a deal. | Leaders of the three main parties making up a new government of national unity had been meeting the Greek president to try to reach a deal. |
Greeks will hope the news provides the stability to get them through their debt crisis, correspondents say. | Greeks will hope the news provides the stability to get them through their debt crisis, correspondents say. |
Mr Papademos, who is not a member of parliament, will head an interim government until elections can take place in February. | |
The govermment's main task will to ensure debt-laden Greece gets its latest bailout payment, by approving a new 130bn euro ($177bn; £111bn) international rescue package from eurozone partners and the International Monetary Fund. | |
"The president, after recommendations by political leaders who attended the meeting, has instructed Lucas Papademos to form a new government," the president's office said in a statement. | "The president, after recommendations by political leaders who attended the meeting, has instructed Lucas Papademos to form a new government," the president's office said in a statement. |
The new government will be sworn in at 12:00 GMT on Friday, a presidency official said. | The new government will be sworn in at 12:00 GMT on Friday, a presidency official said. |
Eurozone crisis | Eurozone crisis |
In other developments: | In other developments: |
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Speaking after the announcement, Mr Papademos said his job "will not be easy but I am convinced the problems will be solved... in a quicker and more efficient way if there is unity and consensus". | Speaking after the announcement, Mr Papademos said his job "will not be easy but I am convinced the problems will be solved... in a quicker and more efficient way if there is unity and consensus". |
He said the first priorities of the transitional government were to ratify the bailout agreed at an EU summit last month, and to implement the policies linked to it. | He said the first priorities of the transitional government were to ratify the bailout agreed at an EU summit last month, and to implement the policies linked to it. |
That will involve another round of austerity measures, which have already proved hugely unpopular with the Greek public. | That will involve another round of austerity measures, which have already proved hugely unpopular with the Greek public. |
Lucas Papademos is to take on one of the most unenviable jobs in Europe at the moment. | Lucas Papademos is to take on one of the most unenviable jobs in Europe at the moment. |
The bespectacled 64-year-old seemed the strongest choice in the current climate of turmoil. | The bespectacled 64-year-old seemed the strongest choice in the current climate of turmoil. |
He is seen as a non-partisan option, above the party politics that is so paralysing here. He is talked of by colleagues as a quiet, respected man - somebody who can steady the ship as it is buffeted by the waves of the financial crisis. | He is seen as a non-partisan option, above the party politics that is so paralysing here. He is talked of by colleagues as a quiet, respected man - somebody who can steady the ship as it is buffeted by the waves of the financial crisis. |
He helped Greece make the transition from the drachma to the euro - something he will now hope is a one-way process, and that there will be no disastrous exit from the eurozone as Greece's financial woes worsen. | He helped Greece make the transition from the drachma to the euro - something he will now hope is a one-way process, and that there will be no disastrous exit from the eurozone as Greece's financial woes worsen. |
Mr Papademos will clearly have strong European support given his past experience - but there will be some Greeks who see Europe's hand a little too clearly behind his appointment. | Mr Papademos will clearly have strong European support given his past experience - but there will be some Greeks who see Europe's hand a little too clearly behind his appointment. |
Mr Papademos will replace Greece's outgoing Prime Minister George Papandreou, who was forced to step aside after a disastrous call for a referendum on the eurozone rescue package. | Mr Papademos will replace Greece's outgoing Prime Minister George Papandreou, who was forced to step aside after a disastrous call for a referendum on the eurozone rescue package. |
The referendum plan was dropped within a few days, but not before sparking the wider financial and political crisis which led to Mr Papandreou's forced withdrawal from the top job, even though he narrowly survived a confidence vote. | The referendum plan was dropped within a few days, but not before sparking the wider financial and political crisis which led to Mr Papandreou's forced withdrawal from the top job, even though he narrowly survived a confidence vote. |
The new PM will also face a confidence vote in parliament, which is expected to happen on Monday, Greek state TV reported. | |
The Greek stock market jumped sharply when Mr Papademos arrived at the presidential palace to join the negotiations on Thursday morning. | The Greek stock market jumped sharply when Mr Papademos arrived at the presidential palace to join the negotiations on Thursday morning. |
Reports say Mr Papademos has accepted that the current Finance Minister, Evangelos Venizelos, remains in place. | Reports say Mr Papademos has accepted that the current Finance Minister, Evangelos Venizelos, remains in place. |
The exact framework of the new coalition government is yet to be agreed. | The exact framework of the new coalition government is yet to be agreed. |
In Italy, meanwhile, there was increasing speculation that former European Commissioner Mario Monti would take over from outgoing Prime Minister Silvio Berlusconi. | In Italy, meanwhile, there was increasing speculation that former European Commissioner Mario Monti would take over from outgoing Prime Minister Silvio Berlusconi. |
The markets appeared to calm amid hopes that the economist would take over the reins shortly, correspondents say, and borrowing levels fell back from the previous day's record highs. | The markets appeared to calm amid hopes that the economist would take over the reins shortly, correspondents say, and borrowing levels fell back from the previous day's record highs. |