[Updated at 12:25 p.m. ET] New Greek Prime Minister Lucas Papademos won a vote of confidence in the Greek parliament Wednesday, paving the way for his interim coalition government to take power.
He won the vote with 255 in favor to 38 against, as 293 votes were cast in the 300-seat Parliament.
[Posted at 11:11 a.m. ET] The new Greek prime minister, Lucas Papademos, faces a vote of confidence in Parliament on Wednesday, following his appointment to replace George Papandreou.
Papandreou quit last week, forced out by public anger at the budget cuts he was pushing through to get international funds to pay his country's debts.
Fears that Greece might default caused shock waves through the European and American banking systems and sent stock markets on a wild ride that at times wiped billions of dollars of value out of existence.
Papademos, a former banker and European Central Bank vice president, became his country's interim prime minister Friday after several days of political wrangling.FULL STORY