Greece names economist Papademos as temporary Prime Minister replacement

Lucas Papademos, the former vice president of the European Central Bank, has been appointed to lead a temporary Greek unity government. One of his main objectives will be to secure financing to avert the country’s economic collapse. In regard to his election, Papademos declared, “I am not a politician but I have dedicated the biggest part of my professional life to economic policy both in Greece and Europe,” Papademos told reporters after being named. “The Greek economy still faces huge problems despite the huge efforts that have been made for fiscal consolidation and to improve competitiveness. Greece is at a critical crossroads.”