 Along with fellow Colonel Georgios Papadopoulos and Brigadier Stylianos Pattakos, he led the group of mid-ranking officers that overthrew the government of Panagiotis Kanellopoulos in a coup d'état on 21 April 1967 and established a military regime—the "Junta of the Colonels"—that lasted for seven years.Makarezos was a central figure in most of the ensuing dictatorial governments, as Coordination Minister until August 1971 and from then on until October 1973 as Deputy Prime Minister.Among the senior junta leadership, he alone had a knowledge of economics, so he was entrusted with the country's economy.