New Greek PM sworn in

The leader of Greece's conservative New Democracy party, which narrowly won Sunday's election, has been sworn in as Prime Minister after agreeing a coalition government with parties on the left.

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New government to be formed in Greece tomorrow

The new Prime Minister of Greece Antonis Samaras with President Carolos Papoulias in Athens today. Credit: Press Association

The new prime minister of Greece Antonis Samaras has pledged to form a new government tomorrow. His New Democracy Party will join forces with the socialist PASOK Party which came in third place, and the smaller party called Democratic Left.

All three parties broadly back Greece's pledges to bailout creditors for further austerity and reforms, though they have pledged to renegotiate some of the terms. Samaras said:

"I will ask the new government that will be formed tomorrow to work hard so that we can offer tangible hope to our people"

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Greek 'conservative-led government has been agreed'

A conservative-led Greek government has been agreed and will form a team to "renegotiate" the EU/IMF bailout saving the country from bankruptcy, Socialist PASOK leader Evangelos Venizelos has said.

Venizelos, whose PASOK party will enter an alliance with the larger conservative New Democracy, said cabinet posts would be decided by Wednesday evening. He said the key issue would be to form a team to renegotiate the 130 billion euro ($164.79 billion) bailout.

"Greece has a government and this is the message that the outgoing finance minister (George) Zanias will take to the Eurogroup," Venizelos told reporters.

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Venizelos: 'Greece will have a Govt as soon as possible'

The leader of Greece's PASOK Socialists have said the country would have a government as soon as possible but there was no immediate agreement with the small Democratic Left on a new pro-bailout coalition.

The leader of Greece's PASOK Socialists Evangelos Venizelos. Credit: Reuters

"Greece must and will have a government as soon as possible," Evangelos Venizelos told reporters after meeting Democratic Left leader Fotis Kouvelis, adding that he was "optimistic".

ECB, IMF and European Commission to support Greece with bailout conditions

Officials from the European Central Bank, International Monetary Fund and European Commission have announced that they will go to Athens as soon as a new government has been put in place to help Greece meet its bailout conditions, the Commission President Jose Manuel Barroso said tonight.

Mr Barroso avoided any firm commitment on whether Greece's bailout conditions could be relaxed in exchange for a 130 billion euro (£104 billion) bailout. He said:

The [bailout] programme agreed by Greece was on the basis of a mandate that euro-area member states gave the Commission, the ECB and the IMF to design a programme with a specific path of debt sustainability.

Those parameters were agreed and it would not be possible to have another trajectory.

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