Mugur Isărescu

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Mugur Isărescu
Grand Cross and Sash ranks of the Order of the Star of Romania
Prime Minister of Romania
In office
16 December 1999 – 28 December 2000
President Emil Constantinescu
Ion Iliescu
Preceded by Alexandru Athanasiu (Acting)
Succeeded by Adrian Năstase
Governor of the BNR
Incumbent
Assumed office
28 December 2000
Preceded by Eugen Ghizari (ad interim)
In office
September 1990 – December 1999
Preceded by Decebal Urdea
Succeeded by Eugen Ghizari (ad interim)
Personal details
Born (1949-08-01) 1 August 1949 (age 65)
Drăgăşani, Romania
Political party Independent
Alma mater Bucharest Academy of Economic Studies

Constantin Mugur Isărescu (Romanian pronunciation: [ˈmuɡur isəˈresku]; born 1 August 1949) is the Governor of the National Bank of Romania. From 22 December 1999 to 28 November 2000 he served as Prime Minister. He is a member of the Romanian Academy.

Born in Drăgăşani, Vâlcea County, he graduated in 1971 from the Academy of Economic Studies of Bucharest. For the next 19 years, he worked for the Institute of International Economics.

After the Romanian Revolution of 1989, he worked for the Ministry of Foreign Affairs, then for the Romanian Embassy in the United States. In September 1990 he became Governor of the National Bank of Romania, a position that he has retained since (except for the short period when he served as Prime Minister).

On 16 December 1999 Isărescu was sworn in as Prime Minister of Romania, but only for about a year, since in November 2000, the ruling coalition lost the elections.

In November 2000 Isărescu ran for President of Romania but was soundly defeated, coming in fourth place and receiving 9% of the vote.

Thereafter, he returned to the National Bank of Romania for another term as Governor.

Although he served only one year as Prime Minister, Isărescu is considered[by whom?] to have started the reform process[clarification needed], continued later by Adrian Năstase and Călin Popescu-Tăriceanu. During his premiership, on February 15, 2000, Romania formally initiated negotiations with the European Union (a process started by the Romanian application in 1995 and European Commission approval on October 13, 1999[1]). As governor of the National Bank of Romania, Mugur Isărescu has coordinated Romania's economic policy since 1990, being considered by some[by whom?] the hidden Prime Minister of the country.[citation needed]

Isărescu managed in 15 years of leadership at the National Bank of Romania to create and maintain a mysterious aura around the policies of the National Bank[dubious ], and many[who?] pointed out that the agenda of the Bank remained independent from any Romanian Government. Many[who?] credit the National Bank team for saving Romania's economy from a Bulgarian-type collapse, raising the national gold and Euro reserves beyond needs, cutting down inflation to single-digit figures and introducing the New Leu.

He is a member of the Club of Rome, the Trilateral Commission and a Grand Cross and Sash ranks of the Order of the Star of Romania recipient.

In 2009, World Records Academy named him as the longest serving governor of a central bank.[2]

He was considered several times between 2009 and 2012 as a suitable replacement for Emil Boc as Prime Minister of Romania. Isărescu declined the offer from President Băsescu, refusing to re-assume his former office in order to remain Governor of BNR.

References[edit]

  1. ^ http://ue.mae.ro/index.php?lang=en&id=351
  2. ^ http://www.evz.ro/detalii/stiri/isarescu-a-intrat-in-cartea-recordurilor-859477.html
Political offices
Preceded by
Alexandru Athanasiu
Acting
Prime Minister of Romania
1999–2000
Succeeded by
Adrian Năstase
Business positions
Preceded by
Decebal Urdea
Governor of the National Bank of Romania
1990–1999
Succeeded by
Eugen Ghizari
Acting
Preceded by
Eugen Ghizari
Acting
Governor of the National Bank of Romania
2000–present
Incumbent