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Greece to swear in unity cabinet and new PM Greece to swear in unity cabinet and new PM
(40 minutes later)
Greece's new coalition cabinet and Prime Minister-designate Lucas Papademos are due to be formally sworn in, after a week of political turmoil.Greece's new coalition cabinet and Prime Minister-designate Lucas Papademos are due to be formally sworn in, after a week of political turmoil.
The new government's most pressing task is to approve Greece's recent EU bailout package and avoid bankruptcy.The new government's most pressing task is to approve Greece's recent EU bailout package and avoid bankruptcy.
Mr Papademos, who is not an elected MP, has said his priority will be to keep Greece in the eurozone.Mr Papademos, who is not an elected MP, has said his priority will be to keep Greece in the eurozone.
He is tasked with putting the debt-laden country back on track until elections, probably in February.He is tasked with putting the debt-laden country back on track until elections, probably in February.
Outgoing Prime Minister George Papandreou was forced to step aside after a disastrous call for a referendum on the eurozone rescue package.Outgoing Prime Minister George Papandreou 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 a financial and political crisis that threatened to engulf the eurozone.The referendum plan was dropped within a few days, but not before sparking a financial and political crisis that threatened to engulf the eurozone.
'Difficult path''Difficult path'
The BBC's Mark Lowen in Athens says Mr Papademos must introduce further austerity measures to stabilise the country.The BBC's Mark Lowen in Athens says Mr Papademos must introduce further austerity measures to stabilise the country.
However, the broad support he enjoys should allow him to push them through.However, the broad support he enjoys should allow him to push them through.
Mr Papademos, a former vice president of the European Central Bank (ECB), is due to to announce the names of his new ministers on Friday, after which they will be formally sworn in.Mr Papademos, a former vice president of the European Central Bank (ECB), is due to to announce the names of his new ministers on Friday, after which they will be formally sworn in.
It took days of wrangling for Lucas Papademos to be named as the new prime minister.It took days of wrangling for Lucas Papademos to be named as the new prime minister.
And he is to begin the hard work immediately after his government of national unity is formally sworn in, each minister taking an oath of office.And he is to begin the hard work immediately after his government of national unity is formally sworn in, each minister taking an oath of office.
The first and urgent task is to begin parliamentary approval of Greece's recent bailout package, so as to receive its international loan and avoid bankruptcy. Mr Papademos will be forced to pursue cost-cutting measures, which are not likely to go down well with an austerity-weary nation.The first and urgent task is to begin parliamentary approval of Greece's recent bailout package, so as to receive its international loan and avoid bankruptcy. Mr Papademos will be forced to pursue cost-cutting measures, which are not likely to go down well with an austerity-weary nation.
But what he has is a broad base of political support here - and that may just give this former banker the necessary advantage to succeed.But what he has is a broad base of political support here - and that may just give this former banker the necessary advantage to succeed.
The technocrat was named as interim prime minister on Thursday after days of behind-the-scenes negotiations by Greece's main political parties.The technocrat was named as interim prime minister on Thursday after days of behind-the-scenes negotiations by Greece's main political parties.
The cabinet is expected to include members of the biggest opposition party, the centre-right New Democracy, and the nationalist Laos party.The cabinet is expected to include members of the biggest opposition party, the centre-right New Democracy, and the nationalist Laos party.
However, a number of key posts will probably remain under the control of the Socialist Pasok party of outgoing Prime Minister George Papandreou, Greek daily Kathimerini reported.However, a number of key posts will probably remain under the control of the Socialist Pasok party of outgoing Prime Minister George Papandreou, Greek daily Kathimerini reported.
Finance Minister Evangelos Venizelos is expected to retain his post.Finance Minister Evangelos Venizelos is expected to retain his post.
After the new cabinet is appointed, a debate is due to begin in parliament that will culminate in a confidence vote on Mr Papademos on Sunday or Monday, Greek media reported.After the new cabinet is appointed, a debate is due to begin in parliament that will culminate in a confidence vote on Mr Papademos on Sunday or Monday, Greek media reported.
On Thursday Mr Papademos said the priority of his incoming coalition cabinet would be to seek unity and keep Greece in the eurozone.On Thursday Mr Papademos said the priority of his incoming coalition cabinet would be to seek unity and keep Greece in the eurozone.
"The choices we make will be decisive for the Greek people," he said."The choices we make will be decisive for the Greek people," he said.
"The participation of our country in the eurozone is a guarantee for the country's monetary stability. It is a driver of financial prosperity.""The participation of our country in the eurozone is a guarantee for the country's monetary stability. It is a driver of financial prosperity."
He added: "The path will not be easy but I am convinced the problems will be solved faster and at a smaller cost if there is unity and consensus."He added: "The path will not be easy but I am convinced the problems will be solved faster and at a smaller cost if there is unity and consensus."
Mr Papademos said his first priorities would be to ratify the 130bn euro ($177bn; £111bn) rescue package agreed at an EU summit last month, and to implement the policies linked to it.Mr Papademos said his first priorities would be to ratify the 130bn euro ($177bn; £111bn) rescue package agreed at an EU summit last month, and to implement the policies linked to it.