It will be a hard task after former Premier and Radical Left SYRIZA leader Alexis Tsipras went on a costly spree of pension bonuses and tax cuts - after slashing benefits and raising taxes - in a failed bid to win re-election in July 7 snap elections where he was trounced by Mitsotakis, promising a pro-business tenure with tax cuts aimed at drawing investors. The economist and engineer served as deputy minister in a previous government.
Mitsotakis had barely announced his Cabinet selection Monday evening when Greece's creditors bluntly rejected his calls to ease bailout conditions. The country's debt level stands at more than 180 percent of output.
Conservative party leader Kyriakos Mitsotakis was sworn in as Greece's new prime minister on Monday, a day after his resounding election victory on campaign pledges to cut taxes and negotiate new terms with worldwide lenders.
"Commitments are commitments, and if we break them, credibility is the first thing to fall apart", Mario Centeno, president of the Eurogroup, said after the meeting.
Christos Staikouras named Finance Minister and will be the point man in dealing with the country's lenders who've already said that the new government will have to stick to fiscal targets and won't be given any economic breathing room, making it tough for Mitsotakis to meet promised tax cuts and other reform, especially after the Tsipras giveaways.
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The 51 members of the new government swore the oath of office on the Bible in a ceremony led by the Archbishop of Athens Ieronymos, in line with Greek tradition.
Greece was dependent for years on successive worldwide bailouts that provided rescue loans from other European Union countries and the global Monetary Fund in return for deep reforms to the country's economy that included steep tax hikes and major spending cuts. That condition has shackled government spending and, critics say, stifled the country's recovery.
Mr Staikouras said that unlike frequent practices at ministry handovers during a change of government, he would not say everything his predecessor had done was wrong.
"We want to build bridges, not raise walls", he said.
The new foreign minister, Nikos Dendias, held previous cabinet positions in the ministries of development, defense and public order.