Finally after days of eager anticipation, Greece has found its new interim Premier in the form of Lucas Papademos on Friday. Papademos, a much respected economist and also an ex- European Central Bank vice president is the new head of the interim three-party coalition government, the national unity government. He has replaced George Papandreou, leader of the Socialist party, Pasok. The new government is expected to push through the long-awaited tough austerity measures and steer the country away from the massive debt crisis.
The swearing-in ceremony was graced by the President of Greece Karolos Papoulias and spiritual head of the Greek Orthodox Church, Archbishop leyronymos. In the new 48-member cabinet are Evangelos Venizelos, who retains his finance minister portfolio, and Stavros Dimas, as the new foreign minister. Dimitris Avramopoulos holds the post of both defence minister and New Democracy law maker.
To retain its Euro zone membership, Greece under the leadership of Lucas Papademos has some toughest measures to take to deal with the ongoing debt crisis. Foremost are; implementation of tougher austerity measures, securing the release of the next installment (8 billion Euros aid) as per 2010 agreement, getting the sanction of 130 billion Euros rescue package and the sanction of 2012 budget (considered to be the toughest one) by the parliament.
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