Franck Portier's picture
Affiliation: 
Toulouse School of Economics
Credentials: 
Professor of Economics

Voting history

Bitcoin and the City

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Question 2: Do you agree that the regulatory oversight of cryptocurrencies needs to be increased?

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Answer:
Strongly agree
Confidence level:
Extremely confident
Comment:
There is middle way between the jungle and Orwell's 1984 world. Cryptocurrencies should be regulated, not because they threaten financial system stability, but because, as cash, they are used for tax evasion and criminal activities. I do not think that this supervision will infringe human rights.

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Question 1: Do you agree that cryptocurrencies are currently a threat to the stability of the financial system, or can be expected to become a threat in the next couple of years?

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Answer:
Disagree
Confidence level:
Confident

Global risks from rising debt and asset prices

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Question 2: Is the loose monetary policy of major central banks responsible for the recent increase in global leverage or asset values?

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Answer:
Neither agree nor disagree
Confidence level:
Confident

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Question 1: Does the world economy face heightened risks arising from an excess of public and private debt and/or inflated asset prices?

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Answer:
Disagree
Confidence level:
Confident
Comment:
As often when thinking in normative terms, we need to identifythe market imperfections at play. Are economic agents 'forced' (directly or indirectly) to save under the form of public and private debt that would have been excessively issued? Hard to believe, except perhaps for banks that may demand too much public debt because it is considered as a safe asset by financial regulation. I believe that low interest rates (and hence high asset prices) are deeply driven by a lack of profitable opportunities of investment. Excess of public and private debt is mainly a consequence of this saving glut.

Juncker's State of the Union Address

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Question 2: Do you agree that the euro has had more benefits than costs?

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Answer:
Agree
Confidence level:
Very confident

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