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Otmar Issing

Otmar Issing

 

Former Chief Economist Dr Otmar Issing has been a key influencer in the shape of European central banking during the dawn of the new millennium. As a board member of the European Central Bank (ECB) since its creation, in 1998, to 2006 he has played a leading role in the organisation which is responsible for implementing monetary policy for the Eurozone.

He studied economics at the Universities of Würzburg , London and Paris, before writing his PhD on Monetary Problems within the European Union. He was appointed Professor at the University of Erlangen-Nuremberg (Germany) and Visiting Professor at the University of Michigan in Ann Arbor.

The German Government appointed Otmar to their economic advisory board in 1988. Subsequently he became Chief Economist and a member of the executive board of the Bundesbank. In 1998 he joined the President Wim Duisenberg as Chief Economist and member of the executive board at the European Central Bank. He is the only member who has been voted to hold his office for the maximum period of eight years.

Whilst at the ECB he was responsible for European Monetary Policy. He was known as the architect of the Two Column Strategy: economic indicators as well as monetary criteria must be considered for any decisions on interest rates. His vast experience and deep understanding of European monetary economics have helped to create and maintain stability in recent years.

Since retiring from the European Central Bank in 2006 Chancellor Merkel appointed him Head of the Advisory Group on the New Financial Order (2008-2012). He also became a member of the High Level Group of the European Commission chaired by J. De Larosière.

Dr Issing has been awarded numerous honorary doctorates and economics prizes including the Gustav Stolper Award of the Verein für Socialpolitik in 2011.  He was co-founder and co-editor of the scientific journal WiSt.    Otmar is a prolific author and contributor to many international economic and business publications. His short book Wie wir den Euro retten und Europa stärken (How we save the Euro and strengthen Europe) was published in 2012. It argues that the euro is worth saving, but this will require reforms and some countries may be forced to leave.

Current topics include: The future of the Eurozone, global economic futures and the sovereign debt crisis.

 
 

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