November 10, 2011
The appointment of Lucas Papademos, the former vice-president of the European Central Bank, as prime minister of Greece yesterday brought to an end five days of intense political wrangling.
Greece's party leaders agreed to give Papademos the mandate to form an interim coalition government to replace that of George Papandreou. He will be sworn in as prime minister at noon on Friday, the presidential palace announced.
"I have accepted the mandate to create a coalition government … the honour is big and the responsibility that I undertake is even greater," the 64-year-old US-educated economist told reporters, emerging from the presidential palace.
"I am not a politician but I have dedicated the biggest part of my career to economic policy in Europe and Greece. The Greek economy continues to face huge problems despite the very big efforts at fiscal adjustment and improvement of competitiveness," Papademos said, the tension evident in his voice.
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