Reshuffle

Greece Names New Finance Minister

As France and Germany meet to prevent default.

Congratulations? Greece's former Defense Minister Evangelos Venizelos has been promoted to finance minister as the country nears an economic meltdown. He's got a tough job ahead of him: Prime Minister George Papandreou is trying to make approximately $40 billion in budget cuts over the next four years, as stipulated by an aid package from the International Monetary Fund. But the country is in revolt over his government's austerity package, and three deputies have left his party in as many days. French and German leaders, whose countries are most heavily invested in Greece, are meeting to discuss further aid aimed at preventing the country from defaulting.