WIM Duisenberg once said when joining the board of a Dutch bank: "Money is my profession." But as he contemplates his new job as head of the European Monetary Institute - forerunner of the planned European central bank - he might be glad he also has some experience of the rougher world of politics.
Mr Duisenberg, 62 years old next month, took over as president of the EMI this week with European economic and monetary union only 18 months away from its scheduled starting date of January, 1999.
But the nearer EMU approaches, the more controversy it produces. Both the left-wing victory in the French election and the Bonn government's ill considered attempt to revalue Germany's gold reserves to help it qualify for EMU have shown that the path to the euro is still strewn with obstacles. So scepticism among the German public remains high.
Alexandre Lamfalussy, the Belgian banker whom Mr Duisenberg succeeds as EMI head, has already said the road to EMU would be bumpy.
Mr Lamfalussy, bowing out at the age of 67, has done much to promote the idea of the single currency, in his public statements and his work at the EMI. From his office high in the Eurotower in the centre of Frankfurt, he has worked energetically to ensure the central banking framework will be in place when the European Central Bank (ECB) starts, and to try and persuade people the project is worthwhile.
Mr Duisenberg, known in the Netherlands for his adherence to strict monetary policies aimed at low inflation and a strong guilder, could well be the first head of the independent ECB. He has made clear he is a candidate - the prospect of handing over to someone else after only 18 months at the EMl is hardly appealing - and has Germany's strong backing.
Mr Lamfalussy also endorses Wim Duisenberg as the first president of the ECB, a historically challenging position which would make its holder one of the world's pre-eminent monetary officials.
"He is a good candidate for the ECB," says Mr Lamfalussy. Asked whether he is likely to get the job in spite of mutterings of dissent from some French politicians he replies: "I hope so."
The head of the Bank of England, Eddie George, agrees. He has said Mr Duisenberg would mace an "absolutely first-class" ECB president. Hans Tietmeyer, president of Germany's redoubtable Bundesbank also favours Mr Duisenberg, who has headed the Dutch central bank for the past 15 years, keeping the guilder firmly linked to the D-Mark.
Much of course, will depend on what happens in the next year or so. As a former politician - he was the Netherland's finance minister for four years in the 1970s.
Mr Duisenberg will be all too familiar with the sort of manoeuverings that can upset the calculations of central bankers.
He will have to work hard to retain credibility in EMU. Combined with his craggy, down-to-earth appearance and shock of wavy white hair, Mr Duisenberg's relaxed manner should help inspire confidence among the financial community and the public.
He came to banking by way of academia. After studying economics at Groningen University his doctorate was on the economic consequences of disarmament Mr Duisenberg was a teaching assistant there for four years before joining the International Monetary Fund in Washington.
He became an adviser to the Dutch central bank, was professor of macro economics at Amsterdam university for three years until 1973 and was then appointed finance minister at age of 38 in the Social Democratic government.
His next stop was the board of Rabobank, the co-operative banking group, where he stayed for three years before returning to the Dutch central bank as president.
As a steadfast advocate of stable monetary policies who is well known on the international financial circuit, Mr Duisenberg's credentials for his new job are impeccable. He has long been a proponent of the single currency, believing it will stimulate growth and help instil financial discipline into governments.
Since the recent Dutch record on job creation and economic flexibility is one which politicians and bankers in Germany increasingly point to as a model, Mr Duisenberg will be able to argue from a strong base.
He has already tried to allay fears that the euro will be weak and that interest rates, to be set by the ECB, will have to rise to combat higher inflation.
He has called the debate over a strong or weak euro "nonsense", saying the stability pact between EMU members on curbing budget deficits and international competition would keep prices down.
Anything else would be anathema to the man who hopes to run the ECB.
For all his reassuring manner, though, the cigarette-smoking, golf playing Mr Duisenberg will not find it easy to ward off anxieties about the euro. Since an important EMI task will be to advise on which countries are ready for Emu, he will have to combine Dutch pragmatism with diplomacy and toughness. He will have his work cut out.
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