Jürgen von Hagen's picture
Affiliation: 
Universität Bonn
Credentials: 
Professor of Economics

Voting history

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:
Agree
Confidence level:
Very 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:
Agree
Confidence level:
Confident
Comment:
"Heightened risk" but not yet "high risk". There is still time to prevent a crisis, but time is running out. So, Schäuble is right to call an early warning.

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:
Strongly disagree
Confidence level:
Extremely confident
Comment:
It has had advantages for some and disadvantages for others. For the group as a whole, the economic advantages have been close to zero at best. But the political damage caused by the euro has been enormous. Without the euro, we would not have had the government debt crisis, the management of which has revived Franco-German political deals and intergovernmentalism and weakened the EU's own political institutions.

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Question 1; Do you agree that euro membership should be compulsory for all EU member states?

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Answer:
Strongly disagree
Confidence level:
Extremely confident
Comment:
The euro has already proven destructive and divisive for the countries currently using it. It would be foolish to repeat the earlier mistakes of making countries adopt the euro which are not ready for it. It would be even more foolish to force countries to adopt the euro which do not wish to do so. This would further weaken the European Union.

Wages and economic recoveries

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Question 2: Do you agree that the different behaviour of UK real wages relative to Eurozone wages during the Great Recession is in large part due to the UK having different labour market policies?

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Answer:
Agree
Confidence level:
Confident

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