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Papademos vows to keep Greece in the euro zone

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Papademos vows to keep Greece in the euro zone


Lucas Papademos has been named as Greece’s new prime minister.

The man, who as central bank governor took Athens into the euro over a decade ago, is now charged with keeping his country inside the single currency.

Papademos said he faced a tough task ahead, but that Greece’s problems could be resolved.

“I am convinced that the country’s participation in the euro zone is a guarantee of monetary stability,” he told reporters.

The appointment of the senior banker, who has never held elected office, comes after four days of power-sharing talks.

Papademos, until recently a professor at Harvard University, will replace outgoing premier, George Papandreou.

Papandreou quit after members of his own Socialist Party rebelled against his surprise decision to call a referendum on an EU bailout package for Greece.

His successor must convince Greece’s international creditors that it should continue to receive emergency loans.

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