Graduate in Law and Economics, University of Deusto, Bilbao; postgraduate studies at L'Ecole Pratique des Hautes +ëtudes, Paris. 1976, Economist, Council Bureau, Spanish Chambers of Commerce, Brussels; Chief Economist, UGT; 1979-2004, Member, Spanish Parliament; 1982, Minister of Employment and Social Security; 1986, Minister of Public Administration; 1994-97, leader, Spanish Parliamentary Party; 1997-2000, leader, Spanish Socialist Party; 2000, stood as Socialist candidate for Prime Minister; 2004, became Member of the European Commission, responsible for Economic and Monetary Affairs. Author, several books and numerous academic articles and press columns.