Thursday, June 16, 2011

Greek PM to form new government

Greek police forces face anti-austerity protesters on June 15, 2011.

Source: Press TV

Greek Prime Minister George Papandreou has announced that he is to form a new government and push forward tougher economic measures despite anti-austerity protests in the country.

Papandreou plans to form a new cabinet and to seek a confidence vote from his Socialist Party in an attempt to continue austerity plans to reduce the country's debt, Reuters reported.

“Tomorrow I will form a new government and will immediately ask for a vote of confidence in parliament. I will continue on the same road, the road of duty,” Papandreou said during a televised address.

Papandreou's announcement follows his recent offer to step down as premier if the country's main opposition New Democracy Party accepted certain targets and commitments in Greece's political system.

Greece is to receive a new austerity package worth over 28 billion euros, which calls for tighter austerity measures.

The new austerity package comes as debt-ridden Greece has failed to resolve its financial problems despite receiving a 110-billion-euro European Union-International Monetary Fund bailout loan last year.

Greece has witnessed massive protests and three general strikes against the government's austerity measures in the past weeks.

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