Greek PM axes finance chief in reshuffle

GREEK Prime Minister George Papandreou appointed a new finance minister in a crisis reshuffle to try to push through harsh economic reforms and avoid a default that could cause global economic turmoil.

Papandreou picked out-going defence minister Evangelos Venizelos as new finance minister, jettisoning George Papaconstantinou, architect of a belt-tightening programme that has stoked violent unrest and a revolt in his Socialist Party.

The move seemed likely to buy time politically for the embattled prime minister, but did little to dilute scepticism that Greece would be able to implement a new round of deeply painful reforms.