An MNI source is saying that Greek Fin Min Venizelos will remain in his post. That clears the way for former ECB governing council member Lucas Papademos, who has been approached to lead the interim government.

Papademos proved himself to be an intelligent and eloquent central banker through the financial crisis and he is certainly the candidate who will best calm financial markets. Whether he can survive in the back-stabbing world of politics is another question.