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“Greek PM reshuffles cabinet, stays fiscal course” is Reuters’ heading. The Bloomberg economic agency notes in its title that this is the first change in the Papandreou's Cabinet and that Minister Papakonstantinou retains his post, but the ministers of economy and agriculture are replaced and a new ministry of shipping and islands is formed.

Meanwhile, the new government has formally assumed its duties after members of the Council of Ministers sworn before the President of Greece Karolos Papoulias that they will respect the Constitution and laws of the state.