Greece Names New Cabinet

Greece's new cabinet has been named, with Evangelos Venizelos retaining the key position of finance minister. The new coalition government, formed today, includes ministers from the country's two main parties—the Socialists who have governed for the past two years, and the conservatives—along with some from a smaller right-wing party. It's headed by former European Central Bank Vice President Lucas Papademos, who was appointed prime minister yesterday.

Venizelos was widely expected to retain his post, as he was deeply involved in negotiating Greece's latest debt deal with the EU, a deal Papademos seems intent on implementing. "The participation of our country in the eurozone is a guarantee for the country's monetary stability," Papademos said yesterday. "It is a driver of financial prosperity." (More Lucas Papademos stories.)