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Alexandre Lamfalussy, one of the fathers of the euro, dies


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Alexandre Lamfalussy, one of the fathers of the euro, dies

The Hungarian-born Baron Alexandre Lamfalussy, one of the fathers of the EU’s single currency, the euro, has died in Belgium aged 86.

A naturalised Belgian since 1961 after he fled to the country before the iron curtain fell completely, he carved out a career in banking in Brussels before moving to the Bank of International Settlements in Switzerland.

In 1994 he was chosen to lead the European Monetary Institute, the forerunner of the European Central Bank, and it was from here that he helped devise and launch the euro.

His one expressed regret was that the euro was launched without a harmonised monetary policy.

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