Péter Medgyessy is a Hungarian economist and politician who served as Prime Minister of Hungary from 2002-2004. After serving as a liberalising Minister of Finance during the final years of the communist era, he went on to chair several Hungarian banks in the 1990s, including Paribas. He also taught at the College of Finance and Accountancy in Budapest and served as President of the Hungarian Economic Association before returning to the role of Minister of Finance in 1996 as a political independent. In 2002, he was elected as Prime Minister, and oversaw welfare reforms and Hungary's EU accession before resigning from government in 2004. However, he continued his role as a Member of Parliament until 2006. He studied theoretical economics to doctoral level at the University of Budapest, and he speaks French, Romanian, English and Russian in addition to his mother tongue.