Giorgos Papandreou is determined to create the new party and to take with him all of his political friends.

On Monday, after completion of the third and final parliamentary voting for President of the Republic, Mr. Papandreou is to announce the new party and the name is said to allude to “change”, a famous slogan which has been byword for PASOK since its inception.

The former Prime Minister is in constant meetings with his associates and according to them the announcement of the party will take place by the end of next week with emphasis on new faces. Indeed both will be the characteristics of the new political formation.

The procedures for the creation of the new party are fast in case of failing to elect a new President of the Republic on Monday.

On the other hand yesterday, Mr. Evangelos Venizelos already tried to avoid the division of the party and expressed a sample of the reactions to follow the day of the founding of the new party.