Greek PM makes way for new coalition government

Greek political leaders have agreed on a new government, outgoing Prime Minister George Papandreou said today, stepping down to make way for a new coalition government.

Greek political leaders have agreed on a new government, outgoing Prime Minister George Papandreou said on Wednesday, stepping down to make way for a new coalition government.

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He did not say who would replace him.

"I would like to wish every success to the new prime minister and of course the new government. I will stand by them and I will support them with all my strength," Papandreou said in an address to the nation.

Greece would implement an EU bailout decision and do all it can to stay in the euro, he added.

Sources from the two major parties said earlier on Wednesday that party leaders have agreed on house speaker Filippos Petsalnikos to head the country's new coalition government, barring any last-minute changes.