Evangelos Venizelos is Greece's new Finance Minister. He doesn't have a strong financial background other than the fact that he was in charge of preparing Athens for the 2004 Olympics, a project which costs escalated, spending excessive amounts of state money.
Four years ago, Venizelos challenged Prime Minister George Papandreou for the Socialist party leadership but is now prepared to work with him in an attempt to save the Greece's financial future.
Why Do You Care?
Venizelos' appointment has been viewed as a political move by Papandreou to garner enough votes in the Greek parlaiment to approve the austerity measures needed to gain access to funds from an EU bailout package. Venizelos, still meeting with eurozone ministers in Luxembourg, is confident the austerity vote will be successful.
Despite Venizelos' promises, Greece is already facing a growing wave of nationwide public protest at the austerity measures it has implemented so far.
Greek Prime Minister George Papandreou on Sunday asked parliamentarians and political parties in his country to forge a "national accord" and back him in a confidence vote amid a debt crisis that threatens to cripple the country's economy.
"The consequences of a violent bankruptcy or exit from the euro would be immediately catastrophic for households, the banks and the country's credibility," Papandreou told parliament.
A failure by Venizelos in his new job could prove disastrous, not only for Greece but also, for the eurozone and the world.
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