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Greece awaits a leader

Tuesday, November 08, 2011 - 01:39

Nov. 8 - Greek political leaders are in talks over who will be the next prime minister, with sources saying that Lucas Papademos will be named Greece's next leader. Kirsty Basset reports.

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They've been talking all day but Greece's main parties still haven't announced their new prime minister. Former European Central Bank deputy head Lucas Papademos is thought to the most likely candidate but the final details are still being ironed out. Some potential candidates ruled themselves out because they did not want to be part of the new crisis coalition. Right wing party leader, George Karatzaferis, was one of them. (SOUNDBITE) (Greek) LEADER OF RIGHT WING LAOS PARTY, GEORGE KARATZAFERIS, SAYING: "The families of John and Mary want a marriage at any cost. But John says Mary has bad breath while Mary says John's feet smell. Can a marriage like this succeed? So why should I be the best man?" So far the socialist and conservative parties have agreed that a 100 day coalition should be set up to push through parliament Greece's bailout package. Elections will then be held in February. RBC Capital Markets economist Gustavo Bagattini says there's a danger momentum will be lost. (SOUNDBITE)(English) RBC CAPITAL MARKETS EUROPEAN ECONOMIST GUSTAVO BAGATTINI SAYING: "I think the big risk here is that we're going to see yet another three months of wasted time in which reforms won't be implemented as fast as the troika would like them to." George Papandreou agreed to stand down on Sunday after his plan to hold a referendum on a crucial bailout package was criticised. With Greece due to run out of money in mid-December, the stakes will be high for whoever takes over. Kirsty Basset, Reuters.

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Greece awaits a leader

Tuesday, November 08, 2011 - 01:39