Athens: Former European Central Bank vice-president Lucas Papademos has been appointed as Greece’s new prime minister.
“The president has given Papademos the mandate to form a government,” the office said in a statement.
Papademos, 64, is an expert on financial matters and has been appointed as prime minister to bring Greece out of its worst economic crisis.
In his first comments, Papademos said that membership of the European Union would eventually deliver monetary stability and ensure Greece makes the adjustments needed to restore economic grow.
He said that his government would take hard decision in the coming weeks.
The Greek stock market jumped sharply when Papademos arrived at the presidential palace to begin talks with the head of state and political leaders.
His appointment was held up for four days amid political squabbling and over demands he reportedly made about holding elections later than the February date pencilled in.
The presidential statement did not release the exact ballot date.
The new government must quickly ratify a critical EU bailout deal to unlock loans that will save Greece from bankruptcy next month.
Greek president in chosing Papademos as Greek prime minister to ensure euro zone survival is that he was one of those who eased Greece into the single currency in the first place.
As head of Greece’s central bank from 1994-2002, Papademos fought rocketing inflation and sought to impose monetary discipline on a country that frankly has never had any.
He is also a modernist who eschews the kind of nationalistic chest-beating and conspiracy-driven machismo that has so often hurt the country’s relations with others.
As central bank governor he was widely condemned in the late 1990s for suggesting – rightly as it turns out – that Greece’s stock market was a dangerous bubble.
Dear TNT Reader,
At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.
Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.
But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.
Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.
Donate Monthly Subscription Annual Subscription