Wim Duisenberg
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Wim Duisenberg
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| In office July 1, 1998 – October 30, 2003 |
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| Preceded by | First |
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| Succeeded by | Jean-Claude Trichet |
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| In office July 1, 1997 – July 1, 1998 |
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| Preceded by | Alexandre Lamfalussy |
| Succeeded by | None |
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| In office January 1, 1982 – July 1, 1997 |
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| Preceded by | Jelle Zijlstra |
| Succeeded by | Nout Wellink |
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| In office January 16, 1978 – June 26, 1978 |
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| In office June 8, 1977 – September 8, 1977 |
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| In office May 11, 1973 – December 19, 1977 |
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| Prime Minister | Joop den Uyl |
| Preceded by | Roelof Nelissen |
| Succeeded by | Frans Andriessen |
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| Born | 9 July 1935 Heerenveen, Netherlands |
| Died | 31 July 2005 (aged 70) Faucon, Vaucluse, France |
| Birth name | Willem Frederik Duisenberg |
| Political party | PvdA |
| Spouse | Tine Stelling (Ann.) Gretta Duisenberg (1987-2005) |
| Alma mater | University of Groningen |
| Occupation | Politician Economist Financier |
| Religion | Atheism |
| Signature |  |
| Website | Parliamentary Biography |
Willem Frederik "Wim" Duisenberg (9 July 1935 - 31 July 2005) was a Dutch Politician, Economist and Financier. He was first President of the European Central Bank from 1998 until 2003, and was instrumental in the Introduction of the euro in the European Union in 2002. He was also credited for making numeral improvements for the Economy of the Netherlands.
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[edit] Biography
[edit] 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 Ph.D.; his thesis was "The Economic Consequences of the Disarmament".[citation needed]
[edit] Career
Duisenberg subsequently worked for the International Monetary Fund in Washington 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.
His tenure at the Dutch central bank was marked by caution and reserve. Under his direction, the Dutch guilder was linked to the German Deutsche Mark, and this benefited the Dutch economy, owing to the strength of the German currency. He also followed German central bank's interest rate policies closely, which earned him the nickname "Mr Fifteen Minutes" because he quickly followed any interest rate changes made by the Germans.
[edit] First president of the European Central Bank
Owing to the success of his monetary policy, he became well-known in other European countries, and this led to his appointment in 1998 as the first president of the new European Central Bank in Frankfurt, much to the chagrin of France, who wanted a French candidate. A compromise was agreed upon (although publicly denied by all parties) whereby Duisenberg would serve for at least four years, upon which the Frenchman Jean-Claude Trichet, director of the Banque de France, would take over. In 1999, Duisenberg received the Vision for Europe Award in recognition of his efforts toward the unification of Europe.
Duisenberg announced he would retire on 9 July 2003, (his 68th birthday), but he remained in office until Trichet was cleared of charges of fraud in connection with the collapse of the French bank Crédit Lyonnais. Trichet took over presidency of the ECB on 1 November 2003.
[edit] Death
Duisenberg died in 2005 at the age of 70 while vacationing at his villa in Faucon near Orange, France. He drowned in his swimming pool after suffering a heart attack, a condition which may well also have been caused by his chain smoking.
A commemorating service was held on 6 August 2005 in the Amsterdam Concertgebouw. Duisenberg was buried later that day on the Zorgvlied cemetery in Amsterdam.
[edit] Trivia
- Duisenberg was married to the controversial political activist Gretta Duisenberg. She created a furor when she announced a plan to collect six million signatures in protest of Israeli policies in the Occupied Territories (the figure is thought to have been an allusion to the number of Jewish victims of World War II).
[edit] Quotes
- "Central Bankers are like cream. The more you whip them, the stiffer they get."
- "I hear you, but I do not listen." A response to politicians who loudly pledged for lowering interest rates to boost economy.
[edit] External links
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Wikimedia Commons has media related to: Wim Duisenberg |
| Preceded by Position created |
President of the European Central Bank 1998-2003 |
Succeeded by Jean-Claude Trichet |
