Greece Names Former Central Banker as New PM

After a couple of false starts and a whole lot of unnecessary uncertainty, Greece has finally named the interim Prime Minister that will replace George Papandreou. Lucas Papademos, who has served as both the Greek Central Bank governor and a Vice President with the European Central Bank President, Papademos will face the task of keeping Greece in the Eurozone.

“He’s a leader who can temporarily see Greece through troubled times but keep in mind that he has no political base,” Spyros Economides, a senior lecturer at the London School of Economics, said in a phone interview. “A cross-party coalition will put up with him for a defined, temporary period only.”

Source: Bloomberg

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