Greek Caretaker Government Sworn In

May 17, 2012 from ABC News (Australia)

A caretaker government has been installed in Greece as the country prepares for a new round of elections. The technocrat interim government is not supposed to make big decisions, but events may force actions, especially in light of the continuing low-level run on the banks. Hundreds of millions of euros have already been withdrawn from distressed Greek banks with fears that the country could be forced from the Eurozone.

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Greece

Greece, officially the Hellenic Republic, is a country in Southeast Europe. According to the 2011 census, Greece's population is around 11 million. Athens is the nation's capital and largest city, its urban area also including Piraeus. Greece is strategically located at the cr... Explore this topic

Caretaker government

Caretaker government is a type of government that rules temporarily. A caretaker government is often set up following a war until stable democratic rule can be restored, or installed, in which case it is often referred to as a provisional government. In some countries the term... Explore this topic

Greek general election, 2012

A legislative election was held on Sunday 6 May 2012 in Greece, to elect all 300 members to the Hellenic Parliament. Under the constitution, it was due to be held in late 2013, four years after the previous election; however, an early election was agreed under the November 201... Explore this topic

Euro

The euro is the currency used by the Institutions of the European Union and is the official currency of the eurozone, which consists of 17 of the 27 member states of the European Union: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxemb... Explore this topic

Bank run

A bank run occurs in a fractional reserve banking system when a large number of customers withdraw their deposits from a financial institution at the same time and either demand cash or transfer those funds into government bonds or precious metals or a safer institution becaus... Explore this topic

Eurozone

The eurozone, officially called the euro area, is an economic and monetary union of 17 European Union member states that have adopted the euro as their common currency and sole legal tender. The eurozone currently consists of Austria, Belgium, Cyprus, Estonia, Finland, France,... Explore this topic

European sovereign debt crisis

The European sovereign debt crisis is an ongoing financial crisis that has made it difficult or impossible for some countries in the euro area to repay or re-finance their government debt without the assistance of third parties. In 1992, members of the European Union signed th... Explore this topic

Karolos Papoulias

Dr. Karolos Papoulias has been the President of Greece since 2005. He was the Minister for Foreign Affairs from 1985 to 1989 and from 1993 to 1996. Explore this topic

European Central Bank

The European Central Bank is one of the seven institutions of the European Union listed in the Treaty on European Union. It is the central bank for the euro and administers the monetary policy of the 17 EU member states which constitute the Eurozone, one of the largest currenc... Explore this topic

ABC News (Australia)

ABC News is a national news service produced by the News and Current Affairs division of the Australian Broadcasting Corporation - the division is responsible for all news-gathering and production of news output for ABC television, radio and online services. Although the ABC i... Explore this topic

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