Born in 1946 in Poland. He graduated from the Department of Foreign Trade at the Warsaw School of Planning and Statistics (now the Warsaw School of Economics -WSE) in 1969. He received his Ph.D. in 1978 and became a titular professor in 1990. He founded the Institute of World Economy at the WSE. From 1988-1991, he was Director of the Institute of Business Cycles and Foreign Trade, and between 1989-1993, he was a partner at the consultancy firm TKD-Ernst & Young Poland. He worked as a professor at the WSE and at the R. Lazarski Graduate School of Business and Law in Warsaw. Between 1991-1995, he was the Section Chief of the countries of Central and Eastern Europe for the UN Economic Commission for Europe in Geneva, and from 1995-1997, he was the Minister of Foreign Affairs. From 1998-2004, he was a member of the Monetary Policy Council. He was a Member of the European Parliament from 2004-2009. He is a member of the Committee of the Academy of Economic Sciences and the Polish Economic Society. He was a member of the Bruegel Institute in Brussels between 2011 and 2013. MEP since 2014.