{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Analyst sees major challenges ahead for new PM' data-url='/boclips/videos/5c54c0c4d8eafeecae14d381' data-video-url='/boclips/videos/5c54c0c4d8eafeecae14d381' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nAnalyst sees major challenges ahead for new PM\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Various set up shots of economist Vangelis Agapitos2. SOUNDBITE (English) Vangelis Agapitos, economist:\"We're seeing within the first half hour of trading that the banks are over eight percent down, reflecting the fact that unless...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Various set up shots of economist Vangelis Agapitos\u003cbr/\u003e2. SOUNDBITE (English) Vangelis Agapitos, economist:\u003cbr/\u003e\"We're seeing within the first half hour of trading that the banks are over eight percent down, reflecting the fact that unless they find sufficient capital, through private sources, they run the risk of being nationalised.\"\u003cbr/\u003e3. Agapitos at computer\u003cbr/\u003e4. Close-up of computer monitor tracking stocks\u003cbr/\u003e5. SOUNDBITE (English) Vangelis Agapitos, economist:\u003cbr/\u003e\"One has to question how long will this government be effective and how long will the political tactics and what degree they will allow this government to actually carry out its task as planned? Everybody of course wants to get the 'haircut', everyone wants to get more money out of Europe, but when it comes to delivering on promises and painful measures, the consensus may be there in words, but in deeds we will have to wait and see.\"   \u003cbr/\u003e6. Various Agapitos looking through newspaper\u003cbr/\u003e7. SOUNDBITE (English) Vangelis Agapitos, economist:\u003cbr/\u003e\"I would like to think that Greece can avoid the possibility of going into a 'softer Euro' possibility, which is a debate currently in Europe. In order to do that it really will have to accept many painful measures to convert itself into a German-style economy. I see this as the biggest risk in Greece at the moment. You can cut government, you can raise taxes, but these measures can only go so far.\"\u003cbr/\u003e8. Wide of Agapitos at desk\u003cbr/\u003eA Greek economist warned on Tuesday that he sees great challenges ahead for Prime Minister Lucas Papademos, after the new leader outlined overnight his coalition government's plans for the months ahead.\u003cbr/\u003eEconomist Vangelis Agapitos said he was uncertain if the Greek people were ready to accept the \"many painful measures\" needed to convert the struggling economy. \u003cbr/\u003eHe also highlighted that Greek's banks were trading down on Tuesday, reflecting the fear that they might be nationalised if private capital wasn't raised.\u003cbr/\u003ePapademos was sworn in last week to head a 15-week coalition government supported by the outgoing Socialists and rival conservatives. \u003cbr/\u003eThe new government has been created to secure the approval of a new massive bailout deal worth 130 (b) billion euro (177.6 (b) billion US dollars) from other eurozone countries and the International Monetary Fund.\u003cbr/\u003eGreece acknowledged on Monday that it would miss its deficit target for this year.\u003cbr/\u003ePresenting an outline of his policies overnight Papademos said in response that he would speed up the reforms that are meant to make the economy more competitive.\u003cbr/\u003eThose measures have met stiff resistance in the streets of Athens but are necessary to ensure Greece continues to get the bailout loans that have kept it afloat since last year.\u003cbr/\u003eIn addition to quelling public unrest, Papademos also has to wrangle the country's parliamentary leaders because Greece's international creditors want to see a commitment across the political spectrum to the reforms, or else they'll turn off the tap.\u003cbr/\u003eAgapitos said on Tuesday that he fears Papademos may fail to get that political support when he needs it most. \u003cbr/\u003e\"When it comes to delivering on promises and painful measures, the consensus may be there in words, but in deeds we will have to wait and see,\" he said on Tuesday.  \u003cbr/\u003eHe also said Greece should try to avoid the possibility of being relegated to a \"softer\", or second class, eurozone. \u003cbr/\u003e\"In order to do that it really will have to accept many painful measures to convert itself into a German-style economy. I see this as the biggest risk in Greece at the moment. You can cut government, you can raise taxes, but these measures can only go so far,\" he said.\u003cbr/\u003eMeanwhile Greece's public debt agency said on Tuesday it has raised 1.3 (b) billion euro (1.8 (b) billion US dollars) in a sale of 13-week treasury bills, at a marginally higher interest rate than it paid last month.\u003cbr/\u003eThe sale was 2.94 times oversubscribed, and carried a yield of 4.63 percent, up from 4.61 percent in mid-October.\u003cbr/\u003eDebt-crippled Greece relies on international rescue loans to keep solvent. \u003cbr/\u003eAlthough unable to issue long-term debt due to dizzy borrowing costs, it maintains a market presence through regular treasury bill auctions.\u003cbr/\u003eOn Tuesday, the country's statistical authority said the galloping recession eased in the third quarter, with the economy shrinking by 5.2 percent on the year compared with a 7.4 percent contraction in the second quarter.\u003cbr/\u003eGreece has been in recession for the past three years.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star-half-stroke text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt class=\"educator-rating-title\"\u003eEducator Rating\u003c/dt\u003e\u003cdd\u003e\u003cdiv class=\"educator-rating-details\" data-path=\"/educator_ratings/rrp_data?resourceable_id=702401\u0026amp;resourceable_type=Boclips%3A%3AVideoMetadata\"\u003e\u003cspan class=\"not-yet-rated\"\u003eNot yet Rated\u003c/span\u003e\u003c/div\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eGrade\u003c/dt\u003e\u003cdd title=\"Grade\"\u003eHigher Ed\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eSubjects\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?keywords=the+elements+of+plot\u0026amp;page=38\u0026amp;search_tab_id=1\u0026amp;subject_ids%5B%5D=358379\"\u003eSocial Studies \u0026amp; 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