For the first time, Europe openly contemplates a Greek euro exit while in Athens rage boils over at the bitter pill swallowed by an unelected government.
For the first time, Europe openly contemplates a Greek euro exit while in Athens rage boils over at the bitter pill swallowed by an unelected government.
The politicians have made a fine mess of it, but are Brussels insiders better suited to pushing through painful reforms in Greece and Italy? Mario Monti will have to prove to Italians that he is his own man.
Greece's new premier, Lucas Papademos, was sworn in along with a new unity government on Friday. With the key position of finance minister unchanged, the cabinet is charged with implementing the country’s controversial austerity measures.
Lucas Papademos, former European Central Bank vice-president, has been officially named Greece's new interim prime minister, according to the Greek presidency.
Greece's political leaders entered a fourth day of unity talks Thursday, as their failure to find a new premier heightened concerns among eurozone partners and global stock markets.
Outgoing Greek Prime Minister George Papandreou officially announced on Wednesday that an agreement had been reached on the formation of a new interim coalition government, but talks to name a new PM were pushed back to Thursday.
Rival political parties in Greece promised to agree on a new prime minister Wednesday after two days of deadlock, despite pressure to reach a deal from eurozone countries which are also grappling with the emerging crisis in Italy.
It's the end of the road for Prime Minister George Papandreou as the Greek crisis claims its biggest political victim. Also, it's pastors versus protesters at St Paul's cathedral in London, but how much longer can the anti-capitalist demonstration there carry on? Finally, our reporters meet one family in Kosovo who are too scared to leave their home because of a terrifying archaic culture of retribution.
Talks between Greek PM George Papandreou (pictured) and the opposition continued on Tuesday as they sought a deal on a unity government and a new premier, with former ECB vice president Lucas Papademos reportedly the favourite for the post.
