Greek finance minister Evangelos Venizelos is expected to resign from the government today after being elected leader of the socialist PASOK party.
The 55-year-old stood unopposed for the job after winning the backing of all the party’s most influential members.
He replaces George Papandreou who’d become increasingly unpopular over the imposition of austerity measures and who resigned as prime minister in November.
Speaking to supporters, Evangelos Venizelos said Greece had huge potential but it was up to the Greeks themselves to realise it.“It is in their own hands,” he said, “but that hard work was needed along with unity, stability, and decisiveness.”
Although it was an easy win for Venizelos his next challenge will be a general election pencilled in for the end of April or May. However analysts predict voters will punish PASOK for the massive budget cuts demanded by the EU and IMF in return for a 130 billion euro bailout package.