Otmar Issing, as Chief Economist and member of the European Central Bank’s (ECB) Executive Board from 1998 to 2006, was responsible for the Directorate’s General Economics and Research. He was, during this time, responsible for the development of the “two pillar approach” with regards to monetary policy decision making. This approach was later adopted by the ECB.
Otmar Issing is regarded as one of the most influential European bankers of the last decade, with a seat on the executive boards of both the Bundesbank (German Central Bank, i.e. GCB) as well as the ECB. He was also Head of the Advisory Group on the New Financial order, and a member of the High Level Group of the European Commission. His current position sees him as Chairman of the Kuratorium House of Finance and President of the Center for Financial Studies, Frankfurt.
Otmar, whilst with the ECB, was responsible for European Monetary Policy and is the architect of the “Two Pillar Strategy” which has the view that both economic indicators and monetary criteria need consideration before any decisions are made regarding interest rates. His experience in his field and understanding of European economics have resulted in European stability in this area for a number of years.
Otmar, as a student, studied economics in German, London, and Paris. His Ph.D. thesis addressed Monetary Problems within the European Union. He was later appointed Professor at the University of Erlangen-Nuremberg in Germany and Visiting Professor at the University of Michigan in the U.S.A.
Otmar has published numerous articles and book, the most recent being “The Birth of the Euro.” He is also a member of the Advisory Board of the Globalisation and Monetary Policy Institute of the Federal Reserve Bank of Dallas, Texas, and honourary professor at the University of Würzburg and the University of Frankfurt. Furthermore, he holds honourary doctorates from numerous universities, including those of Bayreuth, Frankfurt, and Konstanz. The recipient of numerous honours and prizes, including the Gustav Stopler Award of the Verein für Socialpolitik, Dr. Otmar Issing is also an active member of the Academy of Sciences and Literature, Mainz, and of the European Academy of Sciences and Arts.
Dr. Otmar Issing is an acclaimed speaker, specializing in world economics, global markets, monetary issues, and the effect of the Euro on globalization. His brilliant insights into global markets leave audiences feeling illuminated.
"No one can tell the story of the birth of the Euro better than Otmar Issing. In this book, he shares the financial insights of an innovative economist and the practical wisdom of a seasoned leader. The book is exceptionally well written, laced with touching personal stories. There is no better way to understand the amazing birth of the Euro than to read this book."
"It is hard to think of a single monetary event more important than the creation of European Monetary Union. Otmar Issing, the intellectual force behind the first decade of the European Central Bank, has written a brilliant account of the debates and struggles behind the birth of the Euro, an event which has reshaped the world monetary order."
"Professor Otmar Issing was an exceptional and decisive actor in making the euro, first as the chief economist and member of the Directorate of the Bundesbank and then as the chief economist and member of the Executive Board of the European Central Bank. His book is remarkable for his accuracy, lucidity and pertinence. It gives the reader the unique perspective of a major decision-maker, who is both a living symbol of the successful transition from the national currencies to the euro and a privileged witness of those historic events."