Shock horror!!! ? Greece promotes former banker to finance minister ...

guardian.co.uk

Greece?got a new finance minister on Wednesday, days after the crisis-hit country?s interim prime minister Lucas Papademos said he was convinced Athens was ?more than halfway along the path? to economic growth and recovery.

Filippos Sachinidis was promoted from deputy minister after Evangelos Venizelos stepped down to take over the helm of the socialist Pasok party ahead of parliamentary elections which could come as early as next month.

Sachinidis is a moderniser and former banker widely seen as a pair of safe hands as the debt-stricken nation navigates its worst crisis in modern times.

His appointment was welcomed by both Pasok and the centre right New Democracy, the two parties power-sharing under Papademos, himself a former vice-president of the European Central Bank.

The change of guard came as the country that triggered?Europe?s debt crisis in December 2009 raced against the clock to implement reforms demanded by the EU, ECB and International Monetary Fund in exchange for ?130bn in extra aid to prop up its moribund economy.

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Source: http://ozhouse.org/2012/03/22/shock-horror-greece-promotes-former-banker-to-finance-minister/

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