Greece Settles on New PM
Parliament speaker Filippos Petsalnikos will lead unity government
By Evann Gastaldo,  Newser Staff
Posted Nov 9, 2011 12:20 PM CST
Greek president Karolos Papoulias (L) listens to the announcement of his re-election by the greek parliament president, Filippos Petsalnikos (L) in his office in Athens on February 3, 2010.   (Getty Images)

(Newser) – Greece has a new leader, as long as no last-minute obstacles pop up: parliament speaker Filippos Petsalnikos, who founded the ruling socialist PASOK party. Sources confirm that the parties settled on Petsalnikos to lead a unity government after three days of feuding. "We have agreed on Petsalnikos, but things can change between now and when the prime minister sees the president," a source tells Reuters.

In a TV address today before meeting with Greece’s president to formally resign, George Papandreou wished the new PM well but did not name him, the Wall Street Journal notes. "I am proud that, despite the difficulties, we avoided bankruptcy and ensured the country stayed on its feet," he added. An idea to recruit former European Central Bank VP Lucas Papademos was ditched after politicians apparently refused to let him choose his own team.