New Greek Prime Minister Lucas Papademos (left) with Minos A. Zombanakis, Belfer Center International Council member.
"Belfer Faculty Member Lucas Papademos Named Prime Minister of Greece"
Lucas Papademos, the Minos A. Zombanakis Professor at Harvard Kennedy School, has been named prime minister of Greece following the resignation of PM George Papandreou. Papademos will lead an interim government of national unity until elections in just over three months.
Papademos is a former vice-president of the European Central Bank and was governor of the Bank of Greece from 1994 to 2002.
“The course will not be easy,” Papademos was quoted in news reports. “But the problems, I’m convinced, will be solved. They will be solved faster, with a smaller cost and in an efficient way, if there is unity, agreement and prudence.”
Papademos is a visiting professor at Harvard Kennedy School, a professor of economics at the University of Athens, and senior fellow at the Center for Financial Studies, Goethe University, Frankfurt. At Harvard, Papademos has taught courses on “Macroeconomic and Financial Policy in the Global Economy,” and “The Global Financial Crisis: Policy Responses and Challenges.”
Papademos was named Zombanakis Professor in April 2011. The professorship, which is based at the Belfer Center, was established last year with a $4 million endowment honoring Minos Zombanakis, a Harvard alumnus and member of the Belfer Center’s International Council. Zombanakis earned Harvard degrees in economics and public administration, and has spent his career in banking. He is recognized for founding roles in the Euroloan markets, the syndicated loan market and the creation of the London Interbank Offered Rate, or LIBOR.
“I am very pleased to have a man of the stature of Lucas Papademos as the first person to occupy the Zombanakis chair,” Zombanakis said when the professorship was announced. “These are trying times for international markets, and I’m hopeful that Professor Papademos’ research will help enhance the understanding of the global financial system and identify ways in which we might improve it.”
Papademos addressed a dinner of the Belfer Center International Council’s annual meeting in April, describing Europe’s economic crisis and the prospects for getting through it without severe damage.
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