Lucas Papademos tipped to be next Greece PM
08 Nov 2011
Lucas Papademos, a former deputy head of the European Central Bank, has emerged as frontrunner to become Greece's prime minister as party leaders bargained over who would lead a "100-day coalition" to push through a bailout before the country ran out of money.
Under EU pressure, Greek politicians showed an unusual spirit of accommodation as the top parties bargained over jobs in a government which would run Greece until the next elections are held early, in February.
EU leaders want the coalition in Greece to be formed quickly to push the €130 billion bailout through parliament, for the sake a nation on the verge of bankruptcy and to boost confidence in the euro zone.
Greece needs €8 billion, which the installment, part of an original rescue package would deliver, to meet heavy debt repayments next month and avoid default. But lenders, have not been forthcoming due to a series of disputes with Athens.
Outgoing prime minister George Papandreou had been in touch with Papademos, according to a senior government official. The official said the prime minister had several telephone contacts with Papademos in the last days.
Papademos steered the nation through the adoption of the euro in 2002 during his stint as Bank of Greece governor prior to moving to the ECB, and is a well-known figure in European capitals.
