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Edition: U.S. Article Comments (0) Slideshow Video Full Focus Editor's choice A selection of our top photos from the past 24 hours. Full Article Follow Reuters Facebook Twitter RSS YouTube Read Next Playboy has 'runaway bride' sticker on cover 15 Jun 2011 U.S. agents slam gun sting effort on Mexico border 15 Jun 2011 Next Playboy has "runaway bride" sticker on cover | 15 Jun 2011 CIA website goes down, hackers claim responsibility 15 Jun 2011 Porn star says Representative Weiner asked her to lie 15 Jun 2011 Discussed 134 Alabama governor signs nation’s toughest immigration law 111 Obama weighs new steps to boost jobs 71 Republicans to debate, with Romney the frontrunner Watched Hefner, fiancee split; Schwarzenegger mistress talks Wed, Jun 15 2011 Airbus' view of flying in the future Mon, Jun 13 2011 Obama resigns from church Mon, Jun 2 2008 Greek PM to reshuffle government to push austerity plan Tweet Share this Email Print Related News Greeks of all ages want politicians to pay 2:26am EDT Analyst view: Greek prime minister to form new government 2:26am EDT Analysis & Opinion Greek riots make global market blues even bluer Greek actors seek divorce from reality Related Topics World » Related Video Greek PM to reshuffle government Wed, Jun 15 2011 Greek PM offers to go as violence erupts Protesters, police injured in Athens clashes 1 / 13 A protester throws a stone at policemen during riots in central Syntagma (Constitution) Square June 15, 2011. Credit: Reuters/John Kolesidis By Hugh Lawson ATHENS | Thu Jun 16, 2011 2:27am EDT ATHENS (Reuters) - Greek Prime Minister George Papandreou plans to form a new cabinet on Thursday and seek a vote of confidence from his fractious Socialist party to try to push through an austerity package and avoid default. Papandreou must pass the new 5-year campaign of tax rises, spending cuts and sell-offs of state property to receive a new EU/IMF bailout and a 12 billion euro aid tranche that Athens needs to pay back debt that matures in August. Papandreou may seek to replace his finance minister, George Papaconstantinou, the main architect of hugely unpopular budget cuts demanded by the EU and the IMF as part of Greece's 110 billion euro bailout last year. The reshuffle underscores the tenuous political and popular support for the new deal, but analysts say Greece has no choice but to carry on with the austerity measures or face default. "If Papandreou gets the vote of confidence we will not go to elections and the chances that the mid-term plan passes will increase," Theodore Couloumbis of the ELIAMEP think tank said. Nonetheless, world stocks and the euro slumped late on Wednesday as the upheaval fed fears of a default. They fell further in Asia on Thursday after a Dutch newspaper quoted ECB policymaker Nout Wellink calling for a doubling of the European bailout fund. He said the fund should be increased to 1.5 trillion euros ($2.15 trillion) if politicians want private-sector investors to participate in a second bailout of Greece. Papandreou had initially offered to step down and form a unity government with opposition parties, but he abandoned the idea after the conservative New Democracy demanded Athens renegotiate its year-old international bailout. New Democracy leader Antonis Samaras said the only way out of the crisis was early elections, but analysts said that would only happen in the unlikely event that the government failed to get a vote of confidence. Political observers also said the reshuffle could persuade rebellious backbenchers in his PASOK party to back the measures despite widespread public anger. "It's rare that deputies of a ruling party vote in favor of getting out of parliament," Couloumbis said. Former ECB Vice-President Lucas Papademos is most frequently cited as a candidate to replace Papaconstantinou, who local media have said may be on his way to the Foreign Ministry. But ALCO's Panagopoulos added that the prime minister may have a hard time convincing people outside the political arena to join his embattled government, which faced mass protests on Wednesday over the prospect of yet another squeeze. TEARGAS The new austerity package foresees 6.5 billion euros ($9.4 billion) in tax rises and spending cuts this year, doubling the effect of measures agreed with bailout lenders that have jacked unemployment up to a record 16.2 percent and extended a deep recession into its third year. The plan includes new luxury taxes, a crackdown on tax evasion and tax rises on soft drinks, swimming pools, restaurant bills and real estate. The euro zone member's 750,000-strong public work force would be cut by a fifth. It also aims to raise 50 billion euros by selling off state-owned firms. Thousands of activists and unionists converged on Athens's central Syntagma square on the parliament's front steps on Wednesday to try to stop lawmakers from debating the measures in committee that they hope to pass by the end of the month. Stun grenades boomed around the square and plumes of smoke rose from burning garbage bins as police fired teargas and fought running skirmishes with scores of youths who fought back with rocks and long clubs. "We want them out. Obviously these measures are not going to get us out of the crisis," Antony Vatselas, a 28-year-old mechanical engineer, crying from teargas. "They want only us to pay for it. And they are doing nothing. I want the debt to be erased. If this doesn't happen, there is no exit for Greece." One group hurled petrol bombs and clashed with police at buildings housing the Finance Ministry, also on the square. Reuters witnesses saw flames in front of an entrance to the main building and a similar clash a few buildings down. The vast majority of the crowd -- which included union workers, political party members, pensioners, and a wide array of Greeks upset at the new austerity measures -- only shouted at the parliament building and remained peaceful. "Thieves, traitors!" many chanted. "Where did the money go?" About 1,500 police closed a large part of the city center and created a corridor to hold back protesters as lawmakers drove up to the building in official limousines. The Health Ministry said 33 people were injured. Fifteen people were arrested, police said. Police officials said the crowd reached around 30,000 but they often underestimate numbers. (Reporting by Athens bureau; Editing by Alison Williams) World Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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