07 November 2011 10:21 [Source: ICIS news]
LONDON (ICIS)--Leaders of ?xml:namespace>
Socialist Prime Minister George Papandreou and opposition leader Antonis Samaras agreed on Sunday to form a coalition government to help pass through a rescue package to address the country's spiralling debt problems.
As part of the deal, Papandreou will stand down as prime minister, with former European Central Bank vice president Lucas Papademos being tipped as the most likely to head the new government.
Last week, European markets were in turmoil following Papandreou’s announcement that Greece would hold a referendum on the latest bailout package, only to drop his decision after coming under pressure from international leaders at the G20 summit in
However, on 5 November Papandreou survived a confidence vote and said he would try to form a government with a broader consensus.
On Monday, financial markets were still trading down in the morning session from the previous close as investors remain nervous over the eurozone debt crisis.
At 09:53 GMT, the
($1 = €0.73)
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