Klaus Liebscher is governor of the Oesterreichische Nationalbank (OeNB). Since the foundation of the European Central Bank in June, 1998, Dr. Liebscher has been an independent member both of the ECB Governing Council and the ECB General Council. He also represents the OeNB at the Bank for International Settlement's (BIS) Governors' Meeting and is Austria's governor to the International Monetary Fund. In 1968, Dr. Liebscher joined Raiffeisen Zentralbank Osterreich AG, becoming a member of the Executive Board in 1980 and chief executive officer and chairman of the board from 1988 to 1995. He served as president of the Vienna Stock Exchange Council from 1990 to 1995, and on the supervisory boards of several banks and other corporations in Austria and abroad. Dr. Liebscher earned his law degree at the University of Vienna, and is a member of the board of the Salzburg Seminar. He has been a guest lecturer at several Salzburg Seminar sessions.