ATHENS - Former European Central Bank (ECB) Vice President Lucas Papademos was named interim Prime Minister on Thursday to head the new Greek coalition government which will be sworn in on Friday, said the office of Greek president.

The announcement was made in an official statement by the office of Greek President Karolos Papoulias following a four-hour meeting of political parties leaders hosted by Papoulias.

Outgoing Prime Minister George Papandreou, main opposition New Democracy (ND) party leader Antonis Samaras and Popular Orthodox Rally (LAOS) President George Karatzaferis agreed on the formation of a coalition government headed by Papademos.

"The new government has been assigned to implement the October 26 eurozone summit agreement and the relevant economic policies. The government will be sworn in on Friday at 14:00 local time (1200 GMT),"said the statement.