Economist, Universities of Hamburg and Regensburg. 1975-80, IMF Young Professionals' Programme; 1980-81, with Association of German Banks; 1981-85, with German Ministry of Finance; 1985-91, with IMF including 1989-91, Resident Representative, Indonesia; with German Ministry of Finance and Director-General, European and International Financial Relations; 1999-2001, Managing Director, Moore Capital Strategy Group, London; 2001-08, Director-General, Economic and Financial Affairs, European Commission; 2008-09, Fellow, Lee Kuan Yew School of Public Policy, Singapore and Senior Adviser, European Commission. 2009 - June 2010, Founder and Chairman, KR Economics. Since July 2010, Chief Executive Officer, EFSF. First Managing Director of the European Stability Mechanism.