Euro Crisis: Greek Coalition formed to support bailout

A three-party coalition government has been formed in Greece in support of the international bailout and keeping the country in the euro.

The leader of the centre-right New Democracy party Antonis Samaras was sworn in yesterday and will head a government that also comprises the socialist Pasok and Democratic Left parties.

Whilst broadly supporting the bailout the new government is seeking improved terms as the country tries to recover from months of economic and political unrest.

The government faces the first stage of renegotiation and implementation of the bailout today at a meeting of Eurozone finance ministers in Luxembourg.

Whilst a cabinet has yet to be formed the new Prime Minister has announced that the finance minister will be Vassilis Rapanos, currently chair of Greece’s National Bank.

Speaking after the formation of the government Mr Samaras stated that “we will do whatever passes from our hands to get out of this crisis”.

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