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Ex-Banker Papademos Is New Greek Prime Minister

This article is more than 11 years old.

Greece's new prime minister says the country's economy faces huge problems despite major austerity efforts already made and those issues will be solved faster with unity and cooperation.

Former European Central Bank vice president Lucas Papademos was named interim prime minister of a new unity government Thursday after four days of power-sharing talks.

The interim government aims to end a severe political crisis that had threatened Greece's financial bailouts and its continued position in the 17-nation eurozone.

The new government will aim to secure and implement the decisions of a euro130 billion ($177 billion) European debt deal agreed upon after months of negotiations.

Papademos also said no specific date had been set for Greece's early election, which had been expected in February.

This program aired on November 10, 2011. The audio for this program is not available.


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