(Athens, GRC) - Greek President Carolos Papoulias on Thursday asked former European Central Bank vice-president Lucas Papademos to form a new government, Papoulias' office said.
"The president has given Mr Papademos the mandate to form a government," the office said in a statement, adding that the new government will be sworn in at 1200 GMT on Friday.
Papademos, 64, enjoys high international regard for his financial expertise and is seen by many as the right man to steer Greece out of its worst post-war economic crisis.
The Greek stock market jumped sharply when Papademos arrived at the presidential palace to begin talks with the head of state and political leaders.
His appointment was held up for four days amid political squabbling and over demands he reportedly made about holding elections later than the February date pencilled in.
The presidential statement made no mention of a snap ballot date.
The new government must quickly ratify a critical EU bailout deal to unlock loans that will save Greece from bankruptcy next month.
