Italian economist and statesman, the first President (1948-55) of the Republic of Italy. In 1936-43 he was the editor of Rivista di storia economica ('Review of Economic History'), which was suppressed by the Fascists, of whom he was an unwavering opponent. In 1943 he fled to Switzerland. Returning to Italy in 1945, Einaudi was appointed governor of the Bank of Italy (1945-48). He was a member of the Constituent Assembly (1946-48), becoming deputy prime minister and minister of the budget (1947), a new post in which he successfully curbed inflation and stabilised the currency. In 1948 Einaudi became a member of the Senate of the Italian republic and on 11th May its first President. His term lasted until 1955.