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Greek caretaker government sworn in

Friday, August 28, 2015 - 01:38

As Greece's interim government is sworn in, a new poll shows Alexis Tsipras's Syriza party emerging as the biggest party after next month's election. Ciara Lee reports.

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Greece's first ever female prime minister is sworn in. Top judge Vassiliki Thanou signed the decree to dissolve the Greek parliament, in order for early elections to be held on September 20th. The caretaker administration is made up of both technocrats and political figures, including key players from Greece's bailout negotiating team under Syriza. That should please international creditors. Eurogroup chief Jeroen Dijsselbloem says the interim government must now keep the agreement on track. BGC's Mike Ingram says the uncertainty is delaying progress. (SOUNDBITE) (English) BGC'S MARKET STRATEGIST, MIKE INGRAM, SAYING: "I think it does make life a little bit awkward for those who wanted to get the banking sector back up and running. But without verification of implementation of the various measures agreed under the bailout, you're not going to get that. You're also not going to get any detailed commitment on debt relief which of course is something the IMF has insisted upon." Alexis Tsipras resigned abruptly last week days after clinching an 86 billion euro bailout package. He's hoping to crush a rebellion from far-left lawmakers and tighten his grip on power. Polls put him narrowly ahead but many voters feel he should not have sought a fresh mandate. There's been some brighter news for the Greek economy though. It grew 0.9 percent in the second quarter beating forecasts boosted by consumer spending and net exports. Analysts say the data supports a more favourable outlook for the year as a whole and that despite political upheaval, Greece has not returned to a recession this year.

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Greek caretaker government sworn in

Friday, August 28, 2015 - 01:38