Lucas Papademos: Biography highlights

Senior Greek economist and former Vice President of the ECB – Prime Minister of Greece from 2011 to 2012 in the wake of the Greek debt crisis.

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Full biography of Lucas Papademos

Lucas Papademos’ background

Lucas Papademos is a distinguished economist and former Vice President of the ECB and head of the Bank of Greece who was appointed to steer Greece out of its worst ever post-war sovereign debt crisis. He was head of the interim Greek government from 2011-2012. He is a widely respected figure with a strong background in both academics and finance.

A highly respected figure with first-hand experience of one of Europe’s defining moments – Lucas Papademos has much to tell and many invaluable lessons to impart.

Best known in Greece as one of the country’s most senior economists, Lucas Papademos has a strong background in both academics and finance.

Educated at Massachusetts Institute of Technology (MIT) during the 1970s he is a distinguished scholar who has published papers on macroeconomic theory and policy as well as holding academic positions at Columbia University, Harvard University and the University of Athens.

After a stint at the Federal Reserve Bank of Boston, he joined the Bank of Greece as Chief Economist in 1985, rising to the position of Governor in 1994 where he worked to stabilise the Greek economy so that it could join the eurozone.

In 2002 he was appointed vice president of the European Central Bank – ECB, one of the highest international posts ever held by a Greek. During his time at the ECB, Mr Papademos was seen as a strong advocate of fiscal and budgetary discipline.

He left the ECB to become advisor to the Greek Prime Minister George Papandreou who was embroiled in the country’s debt crisis. He took part in the negotiations between Athens and the “troika” of international creditors (the IMF, the European Commission and the European Central Bank) in trying to rescue the Greek government.

In November 2011 George Papandreou resigned and Lucas Papademos—who was not a member of the parliament or officially affiliated with any political party—was appointed interim prime minister to keep things steady in his place. After inconclusive elections he stepped down.

He holds a degree in physics, a masters in electrical engineering and a doctorate in economics and has continued to work as an educator, serving as a visiting professor at Harvard University from 2010.

Current/Past Roles and Positions

  • Vice President of the European Central Bank ECB 2002–10
  • Prime Minister of Greece 2011–12
  • Former head of the Bank of Greece
  • Man who took Greece into the Euro 2002

 

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Lucas Papademos at IE School of International Relations
Lucas Papademos at IE School of International Relations
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