GREECE:Lucas Papademos becomes Greece’s new PM
Laaska News Nov. 10,2011
Lucas Papademos. Photo: EPA
Former European Central Bank Vice-President Lucas Papademos became Greece’s new Prime Minister on Thursday, a decision that was made by Greek political party leaders in Athens earlier in the day.
In another development, George Papandreou resigned as the Greek PM in what is likely to contribute to the resolution of the country’s financial problems and help it stay in the euro zone.
On October 26, EU leaders agreed to pay off a half of Greece’s sovereign debt in exchange for austerity measures.