Papandreou Steps Down as Greek Prime Minister

Spiegel
November 9, 2011

Greek Prime Minister Georgios Papandreou stepped down on Wednesday, clearing the way for a coalition government to take over. Filippos Petsalnikos, the speaker of the Greek parliament and an experienced politician, looks set to become the new prime minister.

Greek Prime Minister Georgios Papandreou has announced his resignation, making way for a new coalition government.

Greek political leaders have agreed on a new government, Papandreou said on Wednesday as he stepped down. While he did not name his replacement, he said in an address to the nation: "I would like to wish every success to the new prime minister and of course the new government. I will stand by them and I will support them with all my strength."

Greece would implement an EU bailout decision and do all it can to stay in the euro, he added.

Sources from the two major parties said earlier on Wednesday that party leaders have agreed on speaker of the Greek parliament Filippos Petsalnikos, an experienced politician, to head the country's new coalition government, barring any last-minute changes.

The coalition will be put in place to implement the drastic restructuring program and to prepare for fresh elections.

"We have agreed on Petsalnikos but things can change between now and when the prime minister sees the president," a source close to the discussions between the ruling Socialists and the conservative opposition New Democracy told Reuters on condition of anonymity.

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