Peter Grasmann studied economics and statistics at Munich University and University of California at Berkeley. He holds a PHD in economics. Previously he worked as lecturer at Munich University and CALTECH and later at German Hypo-Bank as analyst and broker. He joined the European Commission in 1991, where he first worked on financial integration and capital movements, later on forecasting for the EU economy and subsequently on candidate and potential candidate countries. After a year of secondment to the International Civilian Office in Kosovo (UN1244) he returned to Brussels to lead a team on general issues of the EU financial system.