Lucas Papademos facts for kids
Quick facts for kids
Lucas Papademos
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| Λουκάς Παπαδήμος | |||||||||||||||||||||||||||||||||
Papademos in 2012
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| Prime Minister of Greece | |||||||||||||||||||||||||||||||||
| In office 11 November 2011 – 16 May 2012 |
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| President | Karolos Papoulias | ||||||||||||||||||||||||||||||||
| Deputy | Theodoros Pangalos Evangelos Venizelos |
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| Preceded by | George Papandreou | ||||||||||||||||||||||||||||||||
| Succeeded by | Panagiotis Pikrammenos | ||||||||||||||||||||||||||||||||
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| Personal details | |||||||||||||||||||||||||||||||||
| Born |
Lucas Demetrios Papademos
11 October 1947 Athens, Greece |
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| Political party | Independent | ||||||||||||||||||||||||||||||||
| Spouse | Shanna Ingram | ||||||||||||||||||||||||||||||||
| Education | Massachusetts Institute of Technology (BS, MSE, PhD) | ||||||||||||||||||||||||||||||||
| Signature |  |
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Lucas Demetrios Papademos (Greek: Λουκάς Παπαδήμος; born October 11, 1947) is a well-known Greek economist and professor. He served as the 12th Prime Minister of Greece from November 2011 to May 2012. He led a special government called a national unity government during a tough time for Greece, known as the Greek debt crisis.
Before becoming prime minister, he was a "technocrat." This means he was a leader chosen for his expert skills, not because he was a politician. He was the Vice-President of the European Central Bank from 2002 to 2010. He also served as the Governor of the Bank of Greece from 1994 to 2002.
Papademos has taught economics at several famous universities. These include Columbia University, the University of Athens, and Harvard Kennedy School at Harvard University. He is also a senior expert at the Center for Financial Studies in Germany.
Contents
Early Life and Schooling
Lucas Papademos was born in Athens, Greece. His parents came from a town called Desfina. He finished high school at Athens College in 1966.
After that, he went to the Massachusetts Institute of Technology (MIT) in the United States. He earned a bachelor's degree in physics in 1970. Then, he got a master's degree in electrical engineering in 1972. Finally, he completed his doctorate degree in economics in 1978.
Career as an Economist
In 1975, Papademos worked with another famous economist, Franco Modigliani. He then began a career teaching economics. He taught at Columbia University from 1975 to 1984. Later, he moved to the University of Athens in 1988.
His work as an economist officially started in 1980. He became a senior economist at the Federal Reserve Bank of Boston. In 1985, he joined the Bank of Greece as its chief economist. He became deputy governor in 1993 and then governor in 1994.
While he was governor, Papademos helped Greece change its money. The country switched from using the drachma to the euro. This was a very important change for Greece.
After leaving the Bank of Greece in 2002, Papademos became the Vice-President of the European Central Bank. He worked there from 2002 to 2010. In 2010, he also advised the Greek Prime Minister, George Papandreou, on economic matters.
He is a member of the Academy of Athens. He has written many articles about how economies work. He has also spoken about the Greek debt crisis.
Prime Minister of Greece (2011–2012)
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In November 2011, Lucas Papademos was suggested as a possible leader for Greece. The country was facing a big problem called the debt crisis. The previous Prime Minister, George Papandreou, had resigned. He wanted a special government to handle the crisis.
Papademos agreed to be prime minister under two conditions. First, the new government should not be too short-lived. Second, important politicians from both main parties, New Democracy and PASOK, had to join. After some talks, both parties agreed to his terms.
So, Papademos formed a government with members from PASOK and New Democracy. They also had support from another party, the Popular Orthodox Rally. On November 11, 2011, Papademos officially became Prime Minister. He then announced his new team of ministers.
His government's main goal was to get a "financial bailout" from the European Union. A bailout is like a large loan to help a country with its money problems. This help came with a condition: Greece had to make big budget cuts, called "austerity measures." Papademos's top priority was to keep Greece using the euro currency.
In January 2012, Papademos said that people would need to accept lower incomes. This was to prevent the country from running out of money. He also explained that international groups wanted Greece to make changes. These included opening up certain jobs and adjusting minimum wages.
Papademos announced in April 2012 that new elections would be held on May 6, 2012. He planned to step down after these elections. However, the election results did not create a clear winning government. This led to more talks between parties.
Because no government could be formed, another election was called for June 17, 2012. After this announcement, Papademos stepped down. He suggested Panagiotis Pikrammenos, a judge, to take over as a temporary prime minister. Pikrammenos would lead until a permanent government was formed.
Personal Life
Lucas Papademos has been married to Shanna Ingram for over 30 years. They do not have any children. Shanna Ingram is of Dutch background. In 2012, she was the president of a charity group that helps children with cancer.
Incident in 2017
On May 25, 2017, in Athens, an explosive device was found in his car. It caused injuries to Papademos's arms, legs, and stomach. These injuries were not life-threatening. His driver and another passenger also received leg injuries.
See also
In Spanish: Lukás Papadimos para niños
