Sunday 26 March 2017

Papademos keeps Venizelos at finance in new cabinet

GREECE

GREEK finance minister Evangelos Venizelos will remain in his post in a new coalition government headed by Lucas Papademos that is charged with the immediate task of securing funds to avert an economic collapse.

Mr Venizelos will stay on as deputy prime minister as well as finance minister, according to a statement from the press ministry in Athens. The government was sworn in yesterday by Archbishop Hieronymos of Athens and All Greece.

"The new unity government will do the best it can to resolve the country's problems," Mr Papademos said in a meeting with former prime minister George Papandreou after the ceremony.

"I believe, with the collaboration and unity of all, we will achieve the results we want."

The government must implement budget measures and decisions related to an October 26 European bailout amounting to €130bn, as well as manage a voluntary debt swap, before holding elections that have been tentatively set for February 19.

President Karolos Papoulias gave Mr Papademos the mandate to form a government on Thursday after agreement from Mr Papandreou, New Democracy leader Antonis Samaras, and opposition LAOS party leader George Karatzaferis following four days of wrangling after Mr Papandreou said he would resign. (Bloomberg)

Irish Independent

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