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Greece has a new Prime Minister – one they hope will lead them through their current economic crisis. Former European Central Bank vice-president Lucas Papademos has been appointed after days of negotiations. He’ll be the head of an interim government that was formed to ensure the troubled country gets their $177 billion dollar bailout package.

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The German parliament has voted overwhelmingly in favor of an expanded EU bailout fund. It’s a contentious issue in the country – many Germans oppose giving more money to Eurozone countries that are struggling to get by, like Greece. The outcome was more or less a foregone conclusion, as the main opposition parties had already voiced general approval of expanding the fund.

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Greek Prime Minister George Papandreou went before Parliament and more or less begged his citizens to accept the government’s proposed austerity measures. They include steep tax hikes, spending cuts, and privatization plans. Greece is in the middle of a horrible financial crisis that could see the country go bankrupt, which would be, according to Papandreou, “catastrophic.”

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