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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"
Antonis Samaras of the New Democracy party is being sworn in as Prime Minister at a ceremony in Athens.
The Associated Press is reporting that New Democracy leader Antonis Samaras will be sworn in as Greek Prime Minister 'soon.'
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.
News agency AFP are reporting that a Greek coalition government has been formed.
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.
"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".
The US President has said the outcome of Greece's election showed a "positive prospect" for that country's economic future speaking at a meeting with Mexican President Felipe Calderon where it was also announced that Mexico would become a member of a regional trade alliance.
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:
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With 55% of Greek people opposed to the bailout, it is difficult for the New Democracy party leader to claim people voted for the Euro.
The Greek election result did not seem to be enough to calm the financial markets across Europe, as markets remain undecided.