Saturday, June 18, 2011

Greek PM buys time, but will he implement reforms?














Greek Prime Minister George Papandreou's cabinet reshuffle has probably paved the way for approval of a harsh austerity package but there are doubts over whether it will be implemented.

Papandreou, his own political survival on the line, plumped for party insiders and rivals to neutralize opposition instead of tough policy cops, in a wholesale shake-up of his cabinet on Friday.
He replaced unpopular Finance Minister George Papaconstantinou, architect of the reform package, with powerful party insider Evangelos Venizelos, hitherto the defense minister.


 Reuters