Earlier this week, Greece held its second set of legislative elections in two months. New Democracy, a center-right party that supports the bailout plan proposed by the eurozone and International Monetary Fund, will form a coalition government. Hence, the shattered Greek economy - and equally unstable European financial markets - will avoid a massive collapse.
Greece's new conservative-led coalition government named its Cabinet on Thursday, appointing a prominent banker to take over the key position of finance minister.
Last weekend's elections in Greece leave a crisis-wracked nation in limbo. For a brief moment, markets rallied when the leftist Syriza party came in second, losing the ability to form the government under the parliamentary system.
Greek conservative party head Antonis Samaras was sworn in as prime minister Wednesday at the helm of a three-party coalition that will uphold the country's international bailout commitments.
Greek conservative party head Antonis Samaras was sworn in as prime minister Wednesday at the helm of a three-party coalition that will uphold the country's international bailout commitments.
The conservative party that backs keeping Greece in the eurozone won the country's national election Sunday and immediately proposed forming a pro-euro coalition government — a development that eased, at least briefly, deep fears that the vote would unleash an economic tsunami.
Critical last-ditch talks to form a coalition government in crisis-struck Greece foundered once more Sunday, leading the country one step closer to new elections, although the socialist party leader said he retained 'existing but limited' optimism for a deal.
Greece's commitment to austerity is no longer valid because voters have rejected those deals, a left-wing party leader declared Tuesday as he tried to form a new coalition government.
Greece's commitment to austerity is no longer valid because voters have rejected those deals, a left-wing party leader declared Tuesday as he tried to form a new coalition government.
