Philippe Maystadt facts for kids
Quick facts for kids
Philippe Maystadt
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| Personal details | |
| Born |
Philippe M.P.J. Maystadt
14 March 1948 Petit-Rechain, Belgium |
| Died | 7 December 2017 (aged 69) |
| Political party | Humanist Democratic Centre |
| Alma mater | Catholic University of Leuven Claremont Graduate University |
Philippe M.P.J. Maystadt (born March 14, 1948 – died December 7, 2017) was an important Belgian politician. He held several key government jobs, including Minister for Economic Affairs and Minister of Finance. He also served as Deputy Prime Minister. Later, he became the President of the European Investment Bank (EIB) from 2000 to 2011.
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Who Was Philippe Maystadt?
Philippe Maystadt was born in Verviers, Belgium, in 1948. He was a smart student who earned a PhD in Law from the Catholic University of Louvain. He also got a Master of Arts degree in public administration from Claremont Graduate School in the USA. He even taught as a part-time professor at the Catholic University of Louvain. Mr. Maystadt passed away on December 7, 2017, when he was 69 years old.
A Career in Public Service
Philippe Maystadt began his career as an assistant professor at the Catholic University of Louvain. In 1977, he became a Member of the House of Representatives, which is like being a member of parliament. Soon after, in 1979, he was appointed Secretary of State for the Walloon Region.
Leading Roles in Government
From 1980 to 1988, Mr. Maystadt held several important minister positions. He was Minister for the Civil Service and Scientific Policy, then Minister for Budgetary Affairs, Scientific Policy, and Planning, and later Minister for Economic Affairs.
From 1988 to 1998, he served as the Minister of Finance. This was a very important role, and in 1990, Euromoney magazine even named him "Finance Minister of the Year." Philippe Maystadt also served as Deputy Prime Minister twice, from 1986 to 1988 and again from 1995 to 1998.
He played a key role in helping Belgium join the Euro zone. This meant Belgium started using the Euro currency.
International Finance and the EIB
Mr. Maystadt was also involved in many international financial groups. He chaired meetings for the G-10 Ministers of Finance and the EU Council of Ministers for Economic and Financial Affairs. He also led the Board of Governors of the EBRD and, for five years, the Interim Committee of the International Monetary Fund.
In 2000, he became the President of the European Investment Bank (EIB). The EIB is a bank that lends money for projects that support the European Union's goals. His time as President of the EIB was extended in 2006 for another six years.
Towards the end of his time as Finance Minister, Mr. Maystadt faced challenges regarding some financial decisions. These difficulties led to him stepping down from his political roles in Belgium.
Recognitions and Awards
Philippe Maystadt received an important honour from Italy:
Italy : Grand Cross of the Order of Merit of the Italian Republic (awarded on February 20, 1986).
