From November 2009 to December 2011, I commuted across the Atlantic between my “day job” at Harvard, where I teach economic policy, and Athens, where I served as an adviser to George Papandreou, prime minister. I had known him since the 1970s, and my value to him was as a friend and as a non-Greek economist without fixed interests or allies to defend.
I normally started my visits at Maximou mansion – Greece’s White House – reviewing details of reform efforts, the markets’ relentlessly negative opinions, polling data and press coverage with Mr Papandreou and top aides. I’d then head out to ministries, banks, research centres, embassies, newspaper offices and universities. When international officials or key bankers were in town, I’d often join them.
I also spent long hours well down the bureaucratic ladder, where the hard work of implementing massive and complicated changes was taking place. I found my share of fools, time-servers and pettifoggers worthy of Gogol – but I also found dedicated men and women, whose frustrations rivalled the young anarchists on downtown Exarchia street corners.