Sunday 22 October 2017

Papademos to unveil new policy platform

GREECE’S new prime minister is set to present his policy platform ahead of a midweek confidence vote in parliament.

Lucas Papademos, who is tasked with securing the country's international loan lifeline, will meet finance minister Evangelos Venizelos on Monday before the evening presentation.

The interim coalition government is expected to easily win Wednesday's confidence vote as it is backed by Greece's two biggest parties and a small right-wing nationalist party.

Greece depends on loans from a €110bn package in 2010. That bailout later proved inadequate, forcing a €130bn deal cobbled together last month.

Release of a crucial €8bn loan installment this month - without which Greece will default on its debt mountain before Christmas - depends on approval of the new bailout.

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