Otmar Issing

Otmar Issing (born 27 March 1936 in Würzburg) is a German economist. As the former Chief Economist and Member of the Board of the European Central Bank (ECB) Issing developed the 'two pillar' approach to monetary policy decision-making that the ECB has adopted.

Issing studied economics at the University of Würzburg from 1955 until 1960 with temporary studies in London and Paris. From 1960 to 1966 he worked as a research assistant at the University of Würzburg. He earned his PhD in 1961 and received his postdoctoral lecture qualification (habilitation) in 1965. In 1967 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. In 1973 he took the chair of monetary affairs and international economic relations at the University of Würzburg.

From 1988 to 1990 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. In 1998 Issing became a member of the Executive Board of the ECB as well as its first Chief Economist.