Bernard Connolly was born in Manchester in 1949. He worked for many years in the European Commission, becoming head of the unit responsible for analysis of the European Monetary System. The Wall Street Journal Europe named him as one of its outstanding Europeans of the year in 1995. Mark Carney, governor of the Bank of Canada, identified him as one of only a handful of economists to have accurately predicted the crisis. Derek Scott, economic adviser to Tony Blair, said of him that he understood the macroeconomic issues facing the world "better than any economist on the planet". As CEO of Connolly Insight, LP, Bernard Connolly now lives in New York.