Greece's new Prime Minister Lucas Papademos has been sworn in as the head of a new unity government after a week of political turmoil. Mr Papademos will take on the job of ushering the latest European Union bailout deal through a divided parliament. He'll have about 100 days to start fulfilling the terms of the bailout plan to keep Greece solvent.

 

Well, both developments in Italy and Greece have boosted share markets across Europe, London's FTSE closing up 101 points. US markets have also finished the session higher, as you can see, the Dow up 260. And good profit results in the US cheered up investors there also. The local share market, it finished the week higher as well. Investors were trading cautiously most of the day with Europe's debt crisis in mind, the ASX 200 rising 1.2 per cent. Asian markets followed suit. And in currencies, the Aussie dollar is buying 102 US cents.