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Embattled Greece seeks new PM

Greek political leaders were set to choose who will lead a new coalition on Monday and push through a bailout before the country runs out of money in mid-December.

world Updated: Nov 08, 2011 01:00 IST

Lucas Papademos, a former deputy head of the European Central Bank, was on Monday tipped to emerge as Greek Prime Minister as political leaders bargained over who will lead a new coalition to push through a bailout before the country runs out of money in mid-December.

But whoever leads the transitional government of national unity will have a monumental task in restoring order to a country whose chaotic economy and politics are shaking international confidence in the entire euro project.

With the European Union demanding a quick resolution to the political crisis, Prime Minister George Papandreou sealed a deal on Sunday with the conservative opposition on the crisis coalition to approve the international financial aid package.

Papandreou informed European leaders, including German Chancellor Angela Merkel and European Commission President Jose Manuel Barroso, by phone on Monday about efforts to form the coalition, his office said.

The Greek leaders’ job on Monday was to agree a new prime minister, possibly a technocrat who must exert authority over hardened party chiefs from the centre-left and centre-right, and made decisions which will affect Greeks for a decade.

In an early sign that a broad compromise will be hard to achieve, President Karolos Papoulias’s plan to summon the heads of all leading parties for more negotiations on Monday was dropped after two leftist parties refused to attend.

Hands full
However, the new PM will have their hands full merely getting Papandreou’s socialist PASOK party and the conservative New Democracy party to work together, regardless of whether the leaders join the cabinet.

“I’m afraid the new government will very soon turn out to be problematic,” conservative former finance minister Stefanos Manos told Reuters.

“The new prime minister will ... not give the impression that he is in charge. Everyone will be looking to the two party leaders who will be running things behind the scenes,” he said, adding: “The civil service won’t implement any decision and everyone will be waiting for the election.” reuters

First Published: Nov 07, 2011 16:37 IST