Friday, June 17, 2011

Greek Defense Minister moves to the Finance Department

It is probably the most difficult job in Greece: Prime Minister Georgios Papandreou, Evangelos Venizelos has appointed a new finance minister. The 54-year-old who was previously the defense department - now he takes a completely dilapidated state budget.

Now he must face the struggle against the threat of state bankruptcy. Venizelos is to take over the finance portfolio Giorgos Papakonstantinou. The reshuffle was to be announced in the morning. Papakonstantinou predecessor is the man behind the tough austerity program, rebelling against the Greeks thousands for days at the Athens Syntagma Square.

Greece had received, last year, international emergency loans granted over 110 billion euros. The Greek Parliament has to adopt for the payment of the next tranche of aid money from the European Union and the International Monetary Fund.

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