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Greece caretaker cabinet sworn in

Thursday, May 17, 2012 - 01:22

May 17 - Greece's new cabinet is sworn in, amid a deepening debt crisis and heightening political anxieties. Sarah Sheffer reports.

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Greece swears in a new cabinet for the short haul before fresh elections next month. Made up of mainly professors, technocrats and a few politicians, they will oversee the nation until June 17. Voters will then once again go to the polls after party leaders failed to form a coalition because of divisions over the terms of a 130 billion euro bailout. Fears are now spreading that Greece may run out of money and could even leave the eurozone. A financial analyst at Merit Securities says the storm in the markets is unlikely to settle down before the June elections. (SOUNDBITE) (Greek) FINANCIAL ANALYST AT MERIT SECURITIES, NIKOS CHRISTODOULOU, SAYING: "The political uncertainty that developed following the May 6 elections has led to a continuing fall in the general index and we find we are at prices similar to February 1990, and if we include inflation, we are at the decade of 1980. Logically there will not be anything to stop the fall until the elections and we are looking for a fulcrum during this period." The head of the emergency government, caretaker Prime Minister Panagiotis Pikrammenos, said he was taking over in a difficult period, and that he would make stability his top priority. Sarah Sheffer, Reuters

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Greece caretaker cabinet sworn in

Thursday, May 17, 2012 - 01:22