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09 November 2011

FT: Deal on new Greek PM falls through


Mr Papandreou had delivered a statement announcing his socialist government's resignation to make way for a new coalition government but did not name a successor.

Philippos Petsalnikos, speaker of parliament and a former justice minister, was poised to become premier, having emerged as a compromise candidate after fierce infighting inside the PanHellenic Socialist Movement over the candidacy of Lucas Papademos, a former European Central Bank vice president. But Mr Papandreou reportedly reintroduced Mr Papademos’s candidacy, along with that of Evangelos Venizelos, the finance minister.

Mr Samaras, leader of the conservative New Democracy party, later said he would be happy with either of Mr Papandreou’s nominations for the premiership but he did not want to be drawn into Pasok infighting. The new cabinet, which is expected to serve until an early election is held on February 19, was still likely to be dominated by socialists, one official said.

Mr Papademos, a former academic who was once governor of the Bank of Greece, had been tipped as the most suitable person to implement the country’s new €130 billion bailout. But his candidacy had been undermined by Evangelos Venizelos, the ambitious socialist finance minister, who would have been sidelined if Mr Papademos took over.

Full article (FT subscription required)



© Financial Times


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