8 Nov 2011

Papademos: Greece's new leader?

Lucas Papademos, the former vice-president of the European Central Bank, is considered by many analysts to be the frontrunner to become Greece's new prime minister. If chosen as the head of an interim coalition government, the 65-year old economist will be tasked with approving the terms of a new international bailout that includes years of austerity and bank losses in billions, measures he had warned against when they were first announced.Experts say Papademos' job will also include both restoring the confidence of Greece's rescuers in Europe, and persuading sceptics at home that a second bailout is something the country cannot survive without.Papademos was governor of the Bank of Greece between 1994 and 2002, overseeing the country's transition from the drachma to the euro and advising George Papandreou, the country's outgoing Greek prime minister.He has also held academic positions at Columbia University, Harvard University and the University of Athens and 
Interesting comment by Snoop Diddy:
earned his PhD in economics from Massachusetts Institute of Technology

Interesting additional by "snoop diddy": Papa-D will be worse than Papa-G. Didnt think that was possible…
http://en.wikipedia.org/wiki/Lucas_Papademos
“…He has served as Senior Economist at the Federal Reserve Bank of Boston in 1980. He joined the Bank of Greece in 1985 as Chief Economist, rising to Deputy Governor in 1993 and Governor in 1994. During his time as Governor of the national bank, Mr Papademos was involved in Greece’s transition from the drachma to the euro as its national currency.[3] After leaving the Bank of Greece in 2002, Papademas became the Vice President to Jean-Claude Trichet at the European Central Bank from 2002 to 2010. In 2010 he left that position to serve as an advisor to George Papandreou.[3] He has been a member of the Trilateral Commission since 1998.[4]