PASOK party leader and former deputy PM Evangelos Venizelos has decided to step down from PASOK’s leadership after the bitter defeat his party suffered in Sunday’s elections.

According to reports at press time, Venizelos commence a process of succession immediately after Parliament casts its vote of confidence for the new government.

Afterwards, a countdown will begin for a PASOK congress, probably in early March, although some party members estimate that it may actually take place later.

Andreas Loverdos and Fofi Gennimata are just two of the first names aired to succeed Venizelos.

“New generation” potential successors will also probably volunteer. Two names out of those are Odysseas Konstantinopoulos and Nikos Androulakis.

According to Venizelos’ close associates, however, he will not resign immediately. The party will hold a meeting on Sunday, where leadership issue ill also be discussed.