12 Nov 2011

New Greek government takes over with former banker at helm

Greece's new technocrat Prime Minister Lucas Papademos assumed power Friday at the helm of an interim coalition government that will seek to push through tough reforms and ensure the country avoids a catastrophic default.

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Papademos, a former European Central Bank vice-president, leads a government including ministers from three parties. The bitter rivalry of outgoing Prime Minister George Papandreou's Socialists and the conservatives of Antonis Samaras has been set aside as Greece's politicians struggle to put the country back on track financially and ensure it can retain its cherished use of the euro.

Finance Minister Evangelos Venizelos retained his post, the conservatives got the key positions of foreign affairs and defence, while ministerial positions also went to members of a small right-wing party.

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