Lars Jonung is Professor Emeritus at Lund University, Lund, Sweden, former chairman of the Swedish Fiscal Policy Council 2011-2013. He was Research Adviser 2000-2010 at DG ECFIN, European Commission, Brussels, where he focused on macroeconomic and financial issues related to the euro. He was previously professor of economics at the Stockholm School of Economics and served as Chief Economic Advisor to Prime Minister Carl Bildt, 1992-1994. Jonung’s research concerns monetary and fiscal policies, financial crises and the history of economic thought. He has published in the American Economic Review, Economic Journal, Journal of Monetary Economics, Journal of Money, Credit and Banking as well as in other scientific journals. Most recently, he published as editor The Great Financial Crisis in Finland and Sweden (with Jaakko Kiander and Pentia Vartia as co-editors). He is co-author of Makroekonomi. Teori, politik och institutioner, the leading undergraduate textbook in macroeconomics in Sweden. He received his PhD from the University of California, Los Angeles in 1975. He has contributed to Swedish public debate for a long time.