November 10, 2011
Greek politicians' quest to name an interim prime minister to guide the country through deep and painful budget cuts ended Wednesday as it had the day before, and the day before: With no new government announced, and meetings planned for tomorrow.
After the country's two main parties failed to agree Wednesday on who will lead an interim government, Greek President Karolos Papoulias called a meeting of political leaders for Thursday, dashing hopes that an end to Greece's weeklong political crisis was at hand.
"These latest developments are very embarrassing for Greece abroad. It could not be worse the way it has been handled," said Anthony Livanios, an independent political analyst. "It's a tragedy."
That Greece's latest political impasse doesn't appear to be gripping investors now, as have past episodes, shows how fears over euro-zone finances have moved to what investors see as a greater worry—the political crisis and mounting borrowing costs in Italy.
In Athens, leaders of the two main parties have expressed hope, since Prime Minister George Papandreou on Friday announced his intention to step aside, that a caretaker government would be named the following day.
The top choice to lead it, officials from the parties have said at several points, is former European Central Bank Vice President Lucas Papademos.
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