Mashrou'ak injects EGP 32.4bn into local development projects since 2015    Beit El Watan initiative generates $10bn in sales: Minister    Egypt, Comoros pledge stronger economic ties, call for unified African voice on global issues    Gaza endures escalating massacres, humanitarian collapse amid diplomatic tensions    Egypt, Saudi Arabia deepen health sector cooperation with comprehensive MoU    Trump rules out third term, says Fed's Powell will stay, voices doubt on Ukraine peace    Gold prices drop by EGP 140 in local market over one week: iSagha    India suspends all Pakistani imports indefinitely    OPEC+ may end 2.2m bpd cuts    EGP up against USD at Sunday's close    White House to cut NASA budget    Egypt's UHIA launches 1st electronic medical pricing system    Egypt's c. bank offers EGP 10b T-bonds fixed coupon    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    EU ambassador commends Aswan's public healthcare during official visit    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Taiwan GDP surges on tech demand    UNFPA Egypt, Bayer sign agreement to promote reproductive health    Egypt to boost marine protection with new tech partnership    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's Gypto Pharma, US Dawa Pharmaceuticals sign strategic alliance    "5,000 Years of Civilizational Dialogue" theme for Korea-Egypt 30th anniversary event    Sudan conflict, bilateral ties dominate talks between Al-Sisi, Al-Burhan in Cairo    Cairo's Madinaty and Katameya Dunes Golf Courses set to host 2025 Pan Arab Golf Championship from May 7-10    Between Women Filmmakers' Caravan opens 5th round of Film Consultancy Programme for Arab filmmakers    Fourth Cairo Photo Week set for May, expanding across 14 Downtown locations    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Ancient military commander's tomb unearthed in Ismailia    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Egypt's FM praises ties with Tanzania    Egypt to host global celebration for Grand Egyptian Museum opening on July 3    Ancient Egyptian royal tomb unearthed in Sohag    Egyptian Minister praises Nile Basin consultations, voices GERD concerns    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Greece's Finance Minister takes over Socialist Party
Published in Amwal Al Ghad on 19 - 03 - 2012

The finance minister of Greece, Evangelos Venizelos, assumed the leadership of the country's embattled Socialist Party, known as Pasok, on Sunday as the country's political parties prepared to face austerity-weary voters in a general election that is expected in late April or early May.
Mr. Venizelos took the reins from George A. Papandreou, who was prime minister until his government fell at the height of the country's financial crisis last November. Mr. Venizelos, who mounted a strong but unsuccessful challenge to Mr. Papandreou for the party leadership in 2007, was unopposed this time after two rivals failed to attract adequate backing to run. The leader is chosen by a vote of the party's members and supporters in what amounts to a national primary.
Mr. Venizelos was expected to give up his ministry post on Monday, either to one of his several deputies or to Prime Minister Lucas Papademos, following a formal handover of the party post from Mr. Papandreou.
In a speech on Greek television shortly after the polls closed Sunday evening, Mr. Venizelos described the election as “a successful exercise in political readiness" and said that he would lead his party to “rebirth" and Greece to recovery. “Already, our country is at that crucial stage between the crisis and the now-palpable prospects for emerging from it," he said.
Pasok, for decades the largest party in Greece with 40 percent of the vote or more in most elections, has seen its support plummet since the financial crisis took hold. The party took most of the blame for the painful rounds of austerity measures enacted in exchange for aid and debt relief from foreign creditors. Many of the measures fell most harshly on important parts of Pasok's political base — public-sector workers — and amid the bitter internal rancor over the measures, the party expelled several members of Parliament who broke ranks during voting.
In the end, completing the aid and debt deals and passing a new national budget required the formation of a unity coalition with Pasok's main rival, the conservative New Democracy Party, and the appointment of an interim prime minister, Mr. Papademos, who will leave office after the general election.
Analysts said on Sunday that the turnout in the party leadership vote, conducted at thousands of polling places set up in city halls, cafes, even gas stations, was higher than expected. Still, under Mr. Venizelos, 55, a powerful orator, the party will have a lot of lost ground to regain. The Greek left is badly splintered, and disgust with the country's deepening recession, spiraling unemployment and dysfunctional politics runs so high that as many as one-third of voters plan to abstain or cast blank ballots in the general election, according to recent polls.
The latest survey, conducted by telephone March 8-13 by Public Issue, put Pasok in fifth place with the support of 11 percent of respondents, far behind New Democracy with 25 percent. The poll had a sample size of 1,010 and a three-percentage-point margin of error.
Three other left-wing parties that oppose the austerity measures drew more support than Pasok in the poll: the moderate Democratic Left with 15 percent, the radical Syriza with 12 percent and the Communists with 11 percent.
If the general election results were to match that poll, nine parties would qualify for seats in Parliament, compared with five now, making the assembly of a governing coalition much more complex, especially on the left. This was reported by New York Times.


Clic here to read the story from its source.