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New Greek PM sworn in

Friday, November 11, 2011 - 01:55

Nov. 11 - New Greek Prime Minister Lucas Papademos is sworn in, marking the beginning of his 100 days to turn around the debt-laden country. Kirsty Basset reports.

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It's official. Lucas Papademos is Greece's new interim prime minister. After being blessed by Orthodox priests, the former vice president of the European Central Bank was sworn in. He says his new government will do its best to deal with Greece's many problems. He has no political experience, but the 64 year old academic is seen as a 'safe pair of hands' when it comes to making tough decisions. He now has 100 days to get the country back on track, and implement the terms of a 130 billion euro bailout plan to keep the country solvent. Papademos is also expected to implement tough austerity measures that have already been agreed on as part of that package. Even though the new cabinet hasn't yet started its work, student protests are heating up. Universities are free under the current system - and students fear reforms might force them to pay fees. (SOUNDBITE) (Greek) STUDENT DIMITRIS GOUZAS, 19, SAYING: "The situation is explosive. University funding has dropped by 60 percent at each university, we have a problem with teachers, they don't exist, classes are not taking place. And the costs we pay to study are unbearable, from rents to our meals. There are students who also have jobs (to get by). And in society in general the problems are getting worse." But with Greece carrying a debt load of more than 160 per cent, others are resigned to the fact there will be more tough times ahead. (SOUNDBITE) (Greek) BANK EMPLOYEE PANAGIOTIS ADAMOPOULOS, 33, SAYING: "I expect the implementation of the necessary measures, unfortunately these are painful for everyone but they are the only way to get a grip on the on the situation." Elections are due to be held in late February. Kirsty Basset, Reuters.

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New Greek PM sworn in

Friday, November 11, 2011 - 01:55