To everyone who was hoping the latest Greek PM would be a double letter, triple word score game killer in Scrabble, our apologies. In the end the ECB's puppet ended up in control, just as initially expected. Kneejerek reaction in the EURUSD higher which will be promptly faded and all that jazz. Fact is nobody cares about the ECB/Fed protectorate known as Greece any longer.
Lucas Papademos, a former European Central Bank vice president, has been named Greece's new prime minister, senior officials from Greece's main political parties said Thursday.
"It's finally over, we have a new prime minister," a senior socialist party official said. "Mr. Papademos will be sworn in today." An official from the conservative opposition party said an "agreement has been reached on Mr. Papademos to become prime minister and he has accepted."
"Senior members from both parties will make up Mr. Papademos's cabinet," he added.