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COALITION Greece Picks New P.M. Chip East, Reuters / Landov

Greece Picks New P.M.

Can this guy save Greece? Lucas Papademos, a former vice president of the European Central Bank, has been named the new prime minister, and he will be sworn in midnight Friday. The ECB controls the monetary policy of the 17 eurozone countries, including Greece. In choosing Papademos, Greece hopes to send the message the country is bouncing back from its debt crisis and political instability—which as recently as last week looked to threaten the entire euro when outgoing Prime Minister George Papandreou called for a referendum vote on the widely unpopular bailout. Papademos will head an interim government focused on securing Greece receives the bailout package, despite its unpopular austerity measures.

November 10, 2011 7:59 AM