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Lucas Papademos is new Greek prime minister

Author: The Sofia Echo staff Date: Thu, Nov 10 2011 1614 Views
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Lucas Papademos has been named as Greece's new prime minister, following days of negotiations.

The appointment was confirmed following a series of meetings between leaders of the three main parties and Greek president Karolos Papouliasover the past few days.

Papademos, 64, the former vice-president of the European Central Bank, said he was taking over at a "critical point" for Greece.

He will head a coalition backed by both the governing socialists and opposition conservatives until early elections are called in February 2012. He will be tasked with ensuring that debt-strapped Greece gets its latest bailout payment, a 130bn euro international rescue package from eurozone partners and the International Monetary Fund.

Born in Athens, Papademos attended the Massachusetts Institute of Technology, gaining a degree in physics in 1970, a masters degree in electrical engineering in 1972, and a doctorate in economics in 1978. He then taught economics at Columbia university and Athens university before joining the Bank of Greece and then the European Central Bank

Papademos replaces outgoing socialist prime minister George Papandreou who has resigned midway through his four-year term. In a televised address, Papandreou said that a government of national unity would do whatever was necessary to bring Greece out of crisis.

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