November 11, 2011
Greece named former European Central Bank Vice President Lucas Papademos as its next prime minister, ending more than three days of wrangling between the country's two main political parties over who will lead an interim government.
The appointment draws to a close a 10-day political crisis in Greece that forced Prime Minister George Papandreou to step down, rocked European markets and raised fresh questions over Greece's future in the euro zone.
The next chapter presents urgent, deep challenges to Mr. Papademos. He takes over an economy that is mired in recession, with unemployment at record highs and a government that has enough cash to last it only for the next few weeks.
His first task will be to secure a badly needed €8 billion ($10.8 billion) aid tranche promised to Greece by its European partners and the International Monetary Fund. Its disbursement has been left in doubt by political turmoil that has gripped Athens since early last week.
More
No comments:
Post a Comment