Greek Prime Minister George Papandreou 311 (R).
(photo credit: REUTERS/Yannis Behrakis)
Greek political leaders have agreed on a new government, outgoing Prime Minister George Papandreou said on Wednesday, stepping down to make way for a new coalition government.
RELATED:Greek PM, opposition leader reach deal on new gov't Europe’s woes make way across the Mediterranean
He did not say who would replace him.
"I would like to wish every success to the new prime minister and of
course the new government. I will stand by them and I will support them
with all my strength," Papandreou said in an address to the nation.
Greece would implement an EU bailout decision and do all it can to stay in the euro, he added.
Sources from the two major parties said earlier on Wednesday that party
leaders have agreed on house speaker Filippos Petsalnikos to head the
country's new coalition government, barring any last-minute changes.
The aim is to establish a "100-day" government to push a 130 billion
euro bailout plan, including a "voluntary" 50 percent writedown on
Greece's debt to private sector bondholders, through parliament by
The socialist and conservative parties had wanted former ECB
vice-president Lucas Papademos to lead a government of national unity
but he appears to have made demands about his level of influence which
they could not swallow.