Wim Duisenberg

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Willem Frederik "Wim" Duisenberg (July 9, 1935 - July 31, 2005) was a Dutch politician of the Labour Party (PvdA). He was the first President of the European Central Bank from 1 July 1998 until 30 October 2003. He was instrumental in the Introduction of the euro in the European Union in 2002. He was also credited for making numerous improvements for the Economy of the Netherlands. A successful economist and financier he served as Minister of Finance from 11 May 1973 until 19 December 1977, he later served as President of the Central Bank of the Netherlands. [1]



Early life

Duisenberg was born in the Frisian town of Heerenveen. He studied economics at the University of Groningen, majoring in international economic relations. In 1965, he obtained a PhD; his thesis was "The Economic Consequences of the Disarmament".[citation needed]


Duisenberg subsequently worked for the International Monetary Fund in Washington D.C. for years followed by a year as an advisor to the director of the Nederlandsche Bank, the Dutch central bank in Amsterdam. He was then appointed a professor at the University of Amsterdam where he taught macroeconomics.

From 1973 to 1977, Duisenberg was Minister of Finance under Prime Minister Joop den Uyl, Shortly afterwards, he gave up his seat in the Dutch parliament to become vice president of Rabobank, a Dutch bank. Two years later, he was appointed director of the Nederlandsche Bank, serving as its president from 1982 to 1997.

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