This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

New Greek PM Samaras To Name Cabinet Members

"I know all of you, all of us, have the best intentions. But I'm not interested in intentions. I'm interested in the work and the result," he told the Cabinet.

Many had feared a victory in Sunday's national election by anti-austerity parties could have prompted a disastrous confrontation with Greece's creditors, ending the flow of bailout funds and eventually forcing the country out of the 17-member eurozone.

In Brussels, European Commission President Jose Manuel Barroso welcomed the formation of Greece's new Cabinet, saying the EU will continue to work with Athens to bring back growth and job creation.

"I am particularly reassured that the new administration will count on ample and broad-based parliamentary support," he said in a statement. "I believe that this sends a clear signal of Greece's determination to honor its commitments and stay in the euro."

Samaras' New Democracy party narrowly beat the anti-austerity Syriza radical left party in Sunday's election, but didn't win enough seats in Parliament to govern alone. After three days of talks, it formed a coalition with the third-place Socialists and the smaller Democratic Left party.

Samaras, a 61-year-old U.S.-educated economist, campaigned on pledges to boost growth, cut taxes, seek extended deadlines to implement the country's pledges for more austerity, and raise the incomes of low earners, large families, police and fighter pilots.

"I expect the party to keep its word and do what is said it will do," said Athens resident Leonidas Tiniakos, 58. "Samaras and the other parties which support the government have said that some parts of the bailout have to change. But it's the actions that matter, not the words."

Tiniakos, who said he voted for New Democracy, added that the fact Greece now has a government "gives me a little hope."

Kyriakos Tzaferos, an out-of-work civil engineer now working as a real estate agent, said the government deal could help restore market stability.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,563.30 -317.06 -1.88%
S&P 500 1,930.75 -39.32 -2.00%
NASDAQ 4,369.7730 -93.1290 -2.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs