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Greece's Interim Government to be Announced

Prime Minister Papandreou's move comes as the country searches for national unity on debt solutions.

Papandreou announces an interim government will be formed in Greece. (Courtesty AP)
Papandreou announces an interim government will be formed in Greece. (Courtesty AP)
An agreement has been made Wednesday between Greece's outgoing Prime Minister George Papandreou and his opposing party to create an interim goverment.

The change in power is supposed to help secure the country's new debt deal. 

Papandreou's socialist party met with the opposing conservative party for three days. 

In a televised press conference, Papandreou said, "Today, the main political forces are joining together, to guarantee to Greece's citizens that in the following months we will do whatever is necessary not only to secure the country's position in the euro and implement the (debt deal) decisions...but also to make use of its great benefits." 

Shortly after, Papandreou resigned. He wished the next prime minister well, but did not say who the next leader will be. 

"Today, despite our political and social differences, we are setting aside the sterile conflicts. A government of political forces is taking over that goes beyond parties and personal biases," Papandreou said in a statement. "We will take the necessary steps together with national unity to secure implementation of (European debt deal) decisions which offer our country security in troubled times." 

Talks of a changing government began last week when Papendreou said he would put the new European rescue package to a referendum. In response, markets around the world plummeted and Eurozone nations were horrified. Papandreou even faced opposition within his own party. 

Papandreou said that the interim government is a way of "sending a strong message to our partners and the international community that we Greeks know how to shoulder our responsibilities, we know how to cooperate, to roll up our sleeves and unite in times of hardship." 

Earlier this week, Eurozone finance ministers announced that the leaders of the two main political parties in Greece had to commit in writing to the terms of the country's bailouts before Athens can receive another loan. 

Some believe that Former European Central Bank vice president Lucas Papademos might be the strongest candidate for interim prime minster. Another strong candidate, current Parliament speaker and former justice and public order ministor Philippos Petsalnikaosm, has emerged Wednesday. 

The Associated Press contributed to this report.



Greece Reaches Agreement on Government Coalition [Updated]

Greece Abandons Referendum


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