Greek Prime Minister George Papandreou dumped his finance minister on Friday in a reshuffle meant to stiffen resolve for harsh economic reforms and avoid a default that could cause global economic turmoil.
Papandreou picked outgoing Defence Minister Evangelos Venizelos as the new finance minister, jettisoning George Papaconstantinou, architect of a belt-tightening program that has stoked violent unrest and a revolt in his Socialist Party.
The move seemed likely to buy time for the embattled prime minister, but did little to dilute skepticism that Greece would be able to implement a new round of deeply painful reforms.
The European Union and International Monetary Fund have made a new bailout for Greece, estimated at 120 billion euros ($168.4 billion Cdn), conditional on Papandreou's five-year package of cuts and tax hikes worth 28 billion euros.
Papandreou picked outgoing Defence Minister Evangelos Venizelos as the new finance minister, jettisoning George Papaconstantinou, architect of a belt-tightening program that has stoked violent unrest and a revolt in his Socialist Party.
The move seemed likely to buy time for the embattled prime minister, but did little to dilute skepticism that Greece would be able to implement a new round of deeply painful reforms.
The European Union and International Monetary Fund have made a new bailout for Greece, estimated at 120 billion euros ($168.4 billion Cdn), conditional on Papandreou's five-year package of cuts and tax hikes worth 28 billion euros.
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