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(See EXT4 for debt crisis news.) Nov. 12 (Bloomberg) -- Greek Finance Minister Evangelos Venizelos said his priority is to ensure the payment of a sixth loan under a European Union-led bailout to avert financial collapse, hours after Prime Minister Lucas Papademos took charge as head of a new interim government. Venizelos retained his posts as deputy premier and finance minister in the government sworn in yesterday by Archbishop Hieronymos of Athens and All Greece. The clock is ticking on the payment of the 8 billion-euro ($11 billion) loan installment under the 110 billion-euro EU-led rescue agreed on in May 2010. The tranche must be paid before the middle of December to prevent a collapse of the country’s economy. “The ministry’s first priority is to secure the payment of the sixth loan on completion of all the necessary actions,”sacs louis vuitton Venizelos told reporters in Athens yesterday. He said that the group of euro-area finance ministers can approve the release of the loan after a telephone conference call. The new government must implement budget measures and decisions related to an Oct. 26 European bailout amounting to 130 billion euros as well as manage a voluntary debt swap, before holding elections that have been tentatively set for Feb. 19. “The new unity government will do the best it can to resolve the country’s problems,” Papademos said in a meeting with former Prime Minister George Papandreou after the ceremony. “I believe with the collaboration and unity of all we will achieve the results we want.” Government Mandate Health Minister Andreas Loverdos, Education Minister Anna Diamantopoulou and Energy Minister George Papaconstantinou also kept their posts. Anastasios Giannitsis, currently chairman of Hellenic Petroleum SA, will head the interior ministry and Stavros Dimas, deputy leader of the main opposition party, New Democracy, and a former European commissioner, will be foreign minister. President Karolos Papoulias gave Papademos the mandate to form a government on Nov. 10 after agreement from Papandreou, New Democracy leader Antonis Samaras, and opposition LAOS party leader George Karatzaferis following four days of wrangling after Papandreou said he’d resign.
