10 Facts About Otmar Issing

Otmar Issing was born on 27 March 1936 in Wurzburg and is a German economist who served as a member of the Executive Board of the European Central Bank from 1998 to 2006 and concurrently in not statutory position of ECB chief economist.

Otmar Issing studied economics at the University of Wurzburg from 1955 until 1960 with temporary studies in London and Paris.

Otmar Issing earned his PhD in 1961 and received his postdoctoral lecture qualification in 1965.

In 1967 Otmar Issing became director of the Institute for International Economic Relations at the University of Erlangen-Nuremberg and full professor at the faculty of economics and social sciences of the University of Erlangen-Nuremberg.

From 1988 to 1990 Otmar Issing was a member of the German Council of Economic Experts and in 1990 he became a member of the board of the Deutsche Bundesbank with a seat on the Central Bank Council.

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In 1998 Otmar Issing became a member of the executive board of the European Central Bank, responsible for the Directorates General Economics and Research as well as its first Chief Economist.

Since June 2006 Otmar Issing has been president of the Center for Financial Studies at the Goethe University in Frankfurt am Main and from 2007 until 2018 he was an international advisor to Goldman Sachs.

In October 2008 Otmar Issing chaired a German government expert group on the new financial order that drew up proposals on how to reform international financial markets.

In 2008 Otmar Issing was a member of the high level group of the European Commission on financial supervision in the EU chaired by Jacques de Larosiere.

In October 2016 Otmar Issing warned that the Stability and Growth Pact was near to failure, there was no market discipline because of ECB interventions and no fiscal control mechanism from markets or politicians.