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Greece Names Lucas Papademos Prime Minister

NEW YORK ( TheStreet) -- Lucas Papademos, a former European Central Bank Vice President, has been named as Greece's new prime minister, according to The Associated Press.

The appointment comes after four days of talks between the country's major political parties to form a new coalition government.

Greece's interim government is working to gain approval for a $177 billion eurozone bailout package. The new coalition government aims to operate until early elections in February, with outgoing prime minister George Papandreou exiting, after serving just two years of his four-year term.

Papandreou rattled international markets last week by calling for a national referendum on the European bailout package and required austerity measures, only to relent and withdraw the referendum plan later in the week.

-- Written by Philip van Doorn in Jupiter, Fla.

Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.

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