After graduating in law from the Complutense University of Madrid and obtaining a doctorate in Political Science in the same University, he pursued advanced studies on European economics in the Université Libre de Bruxelles.
He joined the civil service in 1968 as an official at the Spanish Ministry of the Economy and Trade and subsequently has held prestigious positions at Spanish and EC institutions. In particular, in Spain from 1986 to 1991 he was Deputy Minister of Foreign Affairs, with responsibility for relations with the European Community, and from 1991 to 1993 Minister of Agriculture, Food, and Fisheries, while from 1993 to 1996 and from 2004 to 2009 he was Minister of Economic and Financial Affairs. With regard to the European Community, from 1999 to 2004 he was Commissioner of Economic and Monetary Affairs.
Elected to the Spanish Parliament in 1996 and 2007, he left the Parliament in 2009.
He is currently chairman of the supervisory board of the EFRAG (European Financial Reporting Advisory Group), a member of the Conseil de Garants of Notre Europe, chairman of the executive committee of FRIDE (a private Spanish foundation focused on foreign relations), and president of the Spanish section of the Hispano-Chinese Forum.
Previously to be appointed as a minister he became member of the board of directors of several Spanish companies as a representative of public capital. He is currently a director of Barclays Bank España.
He has been a Director of Enel since May 2011.
