Born in Bilbao (Spain), on 17 June 1948. Academic Background: Graduated in Law and Economics at the University of Deusto (Bilbao); Follow-up studies at L’École Practique des Hautes Études de Paris; “Senior Managers in Government” programme at the Kennedy School of Government, Harvard University; Associate Lecturer at the University of Alcalá de Henares (Madrid) on Employment and Social Security Law.

Professional activities: 1976-1979, Chief Economist of the UGT, a Spanish trade union; 1972-1975, Economist at the Council Bureau of the Spanish Chambers of Commerce in Brussels.

Political positions: Since 26 April 2004, Member of the European Commission, Responsible for Economic and Monetary Affairs; 2000, Socialist candidate for Prime Minister; 1997-2000, Leader of the PSOE; 1994-1997, Spokesperson of the Socialist Parliamentary Group; 1986- 1991, Minister of Public Administration; 1982-1986, Minister of Employment and Social Security; 1979-2004, Member of the Spanish Parliament; Member of the Federal Committee of the PSOE.

Other activities: Director of the research programme on “Equality and redistribution of income” at the Fundación Argentaria (1991-1994); founder (2002) and Director of the progressive think tank Laboratorio de Alternativas; author of several books and numerous press articles.

He is member of the Advisory Committee of FRIDE.