Ukraine sets fast deadlines for new government and elections; opposition leader announces presidential bid

KIEV, Ukraine, Feb. 25 (UPI) -- The chairman of the Verkhovna Rada -- Ukraine's parliament -- announced Tuesday that government formation will be established on Thursday and that presidential elections will be held May 25.

Speaking at a parliamentary meeting, acting parliamentary President Oleksandr Turchynov said "I am instructing the formation of a national unity government on Thursday." Leaders of factions and committees should, he said, work "day and night" on the formation efforts.

Opposition leader and UDAR party leader Vitali Klitschko said of the government formation, it "will be based on key principles, professionalism and moral qualities in the first turn. The economic situation is critical and we have a limited period of time for recovery."

On Tuesday, parliament voted to hold presidential elections as well as elections for Kiev City Council deputies and the Kiev mayor on May 25. The combined elections will, according to Turchynov "save funds."

Vitali Klitschko one of the central opposition leaders of the Euromaidan protests, announced his candidacy for the presidency on Tuesday.

"I will run for the position of the president of Ukraine because I am absolutely confident that it is time for Ukraine to change the rules of the game completely. There must be justice. I am positive this can be done."

[Interfax Ukraine News Agency]