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News Summary: Conservative sworn in as Greek PM

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News Summary: Conservative sworn in as Greek PM
Submitted by Fox First at Ten on June 20th

By The Associated Press
NEW LEADER: Greek conservative party head Antonis Samaras was sworn in as prime minister Wednesday at the helm of a three-party coalition that will uphold the country's international bailout commitments.
IMPLICATIONS: The move ends a protracted political crisis that had cast grave doubt over Greece's future in the euro and threatened to plunge the continent deeper into a financial crisis with global repercussions.
LOOKING FORWARD: The new government has massive challenges ahead: It must generate huge new savings, privatize publicly-owned companies and real estate, cut about 150,000 civil service jobs and open restricted professions to competition.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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