Lucas Papademos

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Greeks Clean Up a Smoldering Athens

But stock market responding positively in early trading

(Newser) - Skirmishes between police and protesters continued in Athens today, and buildings smoldered in the wake of Greece's vote on harsh new austerity measures . As many as 45 buildings have been torched and countless shops looted in the worst Greek rioting in years as 100,000 demonstrators took to the... More »

Greek Deputy Minister Resigns Over Cuts

Yiannis Koutsoukos not a fan of the new measures

(Newser) - Greece's deputy labor minister has resigned to protest the agreement on new austerity measures. Yiannis Koutsoukos issued a statement today saying he opposes the implementation of cutbacks and reforms agreed to earlier today to secure the country's $172 billion international rescue loan lifeline. In a letter to PM... More »

Greek Leaders Reject Debt Deal

Coalition can't get past pension cuts

(Newser) - The heads of the parties in Greece's ruling coalition emerged from their long-awaited meeting yesterday empty-handed, refusing to accept a new austerity plan. Leaders were willing to accept a 22% cut in the minimum wage and job cuts, but balked at almost $800 million worth of proposed pension cuts,... More »

Greece Axing 15K Public Jobs

Country caves to creditors' demands

(Newser) - As politicians in the US debate the merits of smaller government, Greece's creditors are forcing it to shrink its public sector. Greece has agreed to cut 15,000 government jobs by the end of this year, and 150,000—a fifth of the total—by the end of 2015.... More »

Greece Names New Cabinet

Evangelos Venizelos keeps finance minister post

(Newser) - 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... More »

Papademos Named New Greek PM

Four days of talks finally lead to official decision

(Newser) - Greece has a new prime minister—presumably for real this time. The AP reports that Lucas Papademos, former VP at the European Central Bank, has been officially named the PM of the new interim coalition government. T he president's office made the announcement today, Reuters adds. Papademos had been... More »

Greek PM Deal Falls Through

Former European Central Bank VP Papademos once again the top choice

(Newser) - So much for the new Greek prime minister: Yesterday’s deal with parliament speaker Filippos Petsalnikos fell through after more intra-party fighting, leading to a fourth day of meetings to determine a new coalition. Former European Central Bank VP Lucas Papademos is once again the top choice and is at... More »

Is This Man Greece's Next Leader?

Both parties look to Lucas Papademos to head unity government

(Newser) - With George Papandreou set to step down in favor of a unity government , officials from both parties have a new leader in mind: Lucas Papademos, former vice president of the European Central Bank. Many insiders see Papademos as an appropriate choice for compromise between the parties, but some remain skeptical.... More »

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