Klaus Regling
Encyclopedia
Klaus P. Regling is a German
economist and the current Chief Executive Officer of the European Financial Stability Facility
(EFSF). Regling was reportedly considered as a possible head of the European Central Bank
to succeed Jean Claude Trichet.
, and after receiving his bachelor's degree in 1971 went on to the University of Regensburg
, where he earned a master's in the subject in 1975. In 1975 he began work in Washington, D.C.
at the International Monetary Fund
(IMF). He spent his first two years as part of the IMF's Young Professional Program, specifically the Research and African Department, and the following three years as an economist in the Research Department.
In 1980 he left and spent a year in the Economics Department of the German Banker’s Association before being hired as an economist by the German Ministry of Finance, where he worked in the European Monetary Affairs Division until 1985. That year he returned to the IMF and worked both in Washington as well as in Jakarta
, Indonesia
. In 1991 Regling left the IMF once again and returned to the German Ministry of Finance, where he was named the Chief of the International Monetary Affairs Division. In 1993 he became the Deputy Director-General for International Monetary and Financial Relations and in 1995 the Director-General for European and International Financial Relations. He remained with the ministry until 1998, and the following year entered the private sector as the Managing Director of the Moore Capital Strategy Group in London.
Regling was appointed the Director General of the European Commission
's Economic and Financial Affairs directorate in 2001 and remained there till June 2008. From 2008 to March 2009 he was part of the Issing Commission, which was formed by Chancellor Angela Merkel
to advise the government on financial regulatory reform. He also became chairman of the Brussels based KR Economics consultancy. On July 1, 2010 he became head of the European Financial Stability Facility
.
Germans
The Germans are a Germanic ethnic group native to Central Europe. The English term Germans has referred to the German-speaking population of the Holy Roman Empire since the Late Middle Ages....
economist and the current Chief Executive Officer of the European Financial Stability Facility
European Financial Stability Facility
The European Financial Stability Facility is a special purpose vehicle financed by members of the eurozone to combat the European sovereign debt crisis. It was agreed by the 27 member states of the European Union on 9 May 2010, aiming at preserving financial stability in Europe by providing...
(EFSF). Regling was reportedly considered as a possible head of the European Central Bank
European Central Bank
The European Central Bank is the institution of the European Union that administers the monetary policy of the 17 EU Eurozone member states. It is thus one of the world's most important central banks. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt,...
to succeed Jean Claude Trichet.
Biography
Regling studied economics at the University of HamburgUniversity of Hamburg
The University of Hamburg is a university in Hamburg, Germany. It was founded on 28 March 1919 by Wilhelm Stern and others. It grew out of the previous Allgemeines Vorlesungswesen and the Kolonialinstitut as well as the Akademisches Gymnasium. There are around 38,000 students as of the start of...
, and after receiving his bachelor's degree in 1971 went on to the University of Regensburg
University of Regensburg
The University of Regensburg is a public research university located in the medieval city of Regensburg, Bavaria, a city that is listed as a UNESCO World Heritage Site. The university was founded on July 18, 1962 by the Landtag of Bavaria as the fourth full-fledged university in Bavaria...
, where he earned a master's in the subject in 1975. In 1975 he began work in Washington, D.C.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
at the International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
(IMF). He spent his first two years as part of the IMF's Young Professional Program, specifically the Research and African Department, and the following three years as an economist in the Research Department.
In 1980 he left and spent a year in the Economics Department of the German Banker’s Association before being hired as an economist by the German Ministry of Finance, where he worked in the European Monetary Affairs Division until 1985. That year he returned to the IMF and worked both in Washington as well as in Jakarta
Jakarta
Jakarta is the capital and largest city of Indonesia. Officially known as the Special Capital Territory of Jakarta, it is located on the northwest coast of Java, has an area of , and a population of 9,580,000. Jakarta is the country's economic, cultural and political centre...
, Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
. In 1991 Regling left the IMF once again and returned to the German Ministry of Finance, where he was named the Chief of the International Monetary Affairs Division. In 1993 he became the Deputy Director-General for International Monetary and Financial Relations and in 1995 the Director-General for European and International Financial Relations. He remained with the ministry until 1998, and the following year entered the private sector as the Managing Director of the Moore Capital Strategy Group in London.
Regling was appointed the Director General of the European Commission
European Commission
The European Commission is the executive body of the European Union. The body is responsible for proposing legislation, implementing decisions, upholding the Union's treaties and the general day-to-day running of the Union....
's Economic and Financial Affairs directorate in 2001 and remained there till June 2008. From 2008 to March 2009 he was part of the Issing Commission, which was formed by Chancellor Angela Merkel
Angela Merkel
Angela Dorothea Merkel is the current Chancellor of Germany . Merkel, elected to the Bundestag from Mecklenburg-Vorpommern, has been the chairwoman of the Christian Democratic Union since 2000, and chairwoman of the CDU-CSU parliamentary coalition from 2002 to 2005.From 2005 to 2009 she led a...
to advise the government on financial regulatory reform. He also became chairman of the Brussels based KR Economics consultancy. On July 1, 2010 he became head of the European Financial Stability Facility
European Financial Stability Facility
The European Financial Stability Facility is a special purpose vehicle financed by members of the eurozone to combat the European sovereign debt crisis. It was agreed by the 27 member states of the European Union on 9 May 2010, aiming at preserving financial stability in Europe by providing...
.
External links
- Interview with the Wall Street Journal