Lucas Papademos was designated as Prime Minister of Greece on 11 November 2011 to head an interim coalition government. He was Governor of the Bank of Greece from 1994 to 2002 and Vice President of the European Central Bank from 2002 to 2010. He was also a visiting professor of public policy at the Kennedy School of Government at Harvard University and a Senior Fellow at the Center for Financial Studies at the University of Frankfurt. Lucas Papademos, aged 64, has been named as the replacement for outgoing Prime Minister George Papendreou.
Papademos was instrumental in Greece’s transition to the Euro. Greece is now under a major political crisis caused by the country's debt crisis. Being a famous economist, all believe that Papademos can save the country from the crisis.