 Between 1972 and 1983, he taught at the Université Catholique de Louvain (UCL) and the Institut Catholique des Hautes Etudes Commerciales (ICHEC) in Brussels.At the end of the 1970s, he was President of the Monetary Committee of the European Union, and played a particularly important role in the design and establishment of the European Monetary System (EMS).In 1981, together with Alfons Verplaetse, he was one of the architects of the devaluation of the Belgian Franc, in order to stimulate the Belgian economy.