Roger Farmer's picture
Affiliation: 
University of Warwick
Credentials: 
Professor of Economics

Voting history

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:
Disagree
Confidence level:
Confident
Comment:
Most countries have benefited from membership of the Euro at some point in time. Some countries, Greece is an example, are currently paying a substantial cost from their inability to devalue. The Euro is an unstable arrangement that will not last unless the members of the Euro area are able to forge a closer political union. This is less likely, the more countries adopt the currency.

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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:
Disagree
Confidence level:
Extremely confident
Comment:
Juncker has made it clear that he is not currently in favor of fiscal union. There is, nor never has been, any successful monetary union that does not involve significant fiscal transfers from one region to another.