Greece to name Sachinidis as interim FinMin: sources

Reuters News
Posted: Mar 21, 2012 4:58 AM

ATHENS (Reuters) - Greek Deputy Finance Minister Filippos Sachinidis will be the country's new finance minister, government sources said on Wednesday, replacing Evangelos Venizelos who stepped down to lead the Socialist party.

With negotiations on the country's second EU/IMF bailout completed earlier this month, Sachinidis, 49, will serve as finance minister for a few weeks leading up to a parliamentary election in late April or early May.

Overnight, Greece's parliament rubber-stamped with a majority of 213 votes out of 300 a final piece of legislation to unlock the 130 billion euros of EU/IMF funds that will stave off a chaotic sovereign default.

"The new finance minister will be Filippos Sachinidis, the formal announcement will be made shortly," a senior government source told Reuters. Sachinidis's appointment was confirmed by two other government officials.

Sachinidis was deputy finance minister in the coalition government headed by Prime Minister Lucas Papademos since November. He held the same post in the previous socialist government of George Papandreou.

With a PhD in Economics from Manchester University, Sachinidis worked as an adviser in the economics office of socialist Prime Minister Costas Simitis in 2000-4.

(Reporting by George Georgiopoulos and Harry Papachristou; Editing by John Stonestreet)