"Otmar Issing" is a German economist. As the former Chief Economist and Member of the Board of the European Central Bank (ECB) Issing developed the 'two pillar' approach to monetary policy decision-making that the European Central Bank/ECB has adopted.

More Otmar Issing on Wikipedia.

We are of course open to criticisms.

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Rising oil prices are not only affecting current inflation rates but they're also overshadowing next year, ... It can't be ruled out that risks for price developments will deteriorate that much over the medium term that we might have to expect the annual inflation rate to slightly exceed 2 percent.

190

We've got to stop a wage-price spiral coming after the oil price shock. But so far we haven't seen such second-round effects.

180

Potential political pressures must be resisted, ... The best contribution the ECB can make to the economic and social wellbeing of the euro area is to maintain price stability.

161

Economic activity in the first quarter clearly picked up from the previous quarter and the trend that was reached should more or less hold in the second quarter. However, that means that the expected acceleration did not occur.

157

A regime of fixed foreign-exchange rates and obligations to intervene would encroach upon the statute of the ECB and the priority of price stability.

140

According to all criteria, our monetary policy by no means is too restrictive, ... The danger of an overreaction of the ECB certainly does not exist. We always act on the basis of thorough considerations.

98