Lucas Papademos is to become the Prime Minister of the interim coalition government in Greece. The new government will be sworn in at 2 p.m. on Friday.
Amidst the fourth day of political wrangling, a decision regarding the appointment of the new Prime Minister of Greece has been announced. Former European Central Bank vice-president Lucas Papademos, 64, has been named as the replacement for outgoing Prime Minister George Papendreou.
Ekathimerini reported a statement was released on Thursday afternoon, from the office of President Karolos Papoulias. It said the new interim government will be sworn in at 2 p.m. on Friday and the " interim administration would be to adopt and implement Greece's loan agreements with the eurozone and International Monetary Fund."
According toDigital Journal "Papademos was previously the Governor of the Bank of Greece and a former vice-president of the European Central Bank. He was instrumental in Greece’s transition to the Euro, and has publicly espoused the haircuts that are a crucial part of the current Eurozone bailout package that Greece needs to receive to avoid bankruptcy in December."
The BBC reported that the "Greek stock market jumped sharply when Mr Papademos arrived at the presidential palace to join the negotiations on Thursday morning."