An agreement has been finally been reached and Lucas Papademos is the next prime minister of Greece.
Speaking to waiting reporters, the head of the new coalition government called for ‘unity, understanding and prudence’ in solving the country’s huge financial troubles.
The plan of action is to implement the reforms necessary for the 130 billion euro bailout deal ageed in Brussels in October.
Papademos had been named as a possible candidate for the premiership early on, but behind-the-scenes wrangling by the two main parties failed to produce a prompt result in negotiations. Both sides now consent to him leading the interim government until early elections are organised.
The cross-party administration is due to be sworn in on Friday afternoon.