Greece names interim PM


As was widely expected, the former vice-president of the European Central Bank, Lucas Papademos, has been named as the man to head the Greek government until elections take place in February.

The announcement follows days of discussion between the three main political parties in Greece in an effort to provide some stability in the worsening financial crisis. Papademos’ main priority will be to ratify the EU bailout agreement and to implement the austerity measures that are likely to be extremely unpopular, but are required if Greece is to get the latest payment of 130 billion euros.

Papademos is not a politician and, as such, is seen to be above the party politics that has caused such intransigence in Greece. He is likely to have to face a confidence vote in parliament on Monday.

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