Papandreou to announce his new party on Saturday

In a written announcement, Papandreou said that with the New Year "the time has come for the next great step for the country's progressive forces" and "to build the new political home that will house our progressive values, the values that united and still unite us."

He called for general participation "in a Movement that can and will respond essentially to the major wagers that concern the country and the Greek people" and that will ensure the presence of the "real forces of progress in the next Parliament".

According to Papandreou, these were the forces "that have proved in practice with real democratic reforms, that Greece cannot overcome the crisis for good, cannot recover for good, unless it also changes for good, from its foundations, based on a 'Greek Plan' and institutions that work - with the citizen participating."

He said such a movement, whose goal would be to ensure the transition to "post-clientelist" Greece, would be formed in a open, participatory congress to be decided after the elections on January 25, where everything would be decided on a grassroots basis.