Antonis Samara: New Prime Minister of Greece
The leader Antonis Samara, leader of New Democracy Party (NDP), a sworn in as the Prime Minister of Greece.
Samaras’s clinched 129 seats of 300 in the parliamentary elections. The NDP formed the new government with the support of socialist party Pasok and the Democratic Left party.
Greece is going through the severe economic upheaval which started in 2008. The country which contributes nearly 2% of the gross economic output of the Euro zone has seriously been pondering over the option of pulling out of the group. The exit of Greece from the Eurozone might pose a serious threat over the future of European Union (EU) as many bigger European economies such as Spain, Italy, Portugal may follow the steps of Greece.
To pull Greece out of the economic crisis the EU and IMF had granted a 110 billion Euro bailout package to the country in 2010, followed by a 130 billion Euro package in 2012.
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Month: Current Affairs - June, 2012