A caretaker technocrat government took office in Greece yesterday to organise the cash-strapped country’s second elections in just six weeks after an inconclusive May 6 vote jolted the eurozone.

The team led by 67-year-old Panagiotis Pikrammenos, the head of Greece’s top administrative court, is made up mainly of prominent university professors, a retired general and a diplomat.

The caretaker administration was appointed after Greece’s political parties failed to cobble together a coalition following the May 6 elections which saw a voter backlash against austerity and in which no clear victor emerged.

The election left Greece in limbo, pushing the financial markets and euro down sharply, and the new poll on June 17 offers no guarantee of a viable government able to implement an EU-IMF bailout which has divided the country.

The European Union and the International Monetary Fund, which are all that stand between Greece and a disorderly debt default and exit from the eurozone, have warned that no new funds will be released if progress on pledged reforms and tough austerity measures falters.

Outgoing Prime Minister Lucas Papademos yesterday warned that it would be “disastrous” for Greece to unilaterally reject the EU-IMF bailout but it could try for some adjustments in the terms in cooperation with its partners.