Greek Tragedy Averted, For Now

TIME

Embattled PM Papandreou agrees with opposition head Sun. to form interim Gov., step down halfway through four-year term.

Further talks with conservative leader Samaras planned Mon. to discuss next PM, new Cabinet.

Moves intended to shore up country’s debt deal, avoid catastrophic default threatening euro membership, roiling markets.

But: World stocks down Mon.

And: The focus of fear moves to Italy, while France unveils cuts.

Related Topics: Debt Deal, Euro, Europe, george papandreou, Greece, Economy, Foreign Policy, News, The Page

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