Sir Christopher Pissarides's picture
Affiliation: 
London School of Economics
Credentials: 
Professor of economics

Voting history

Greece’s elections and the future of the Eurozone

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Question 2: Do you agree that refusal of the core EU countries to a renegotiation of the Greek bailout agreements would carry serious risks for the economic well-being of the Eurozone?

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Answer:
Agree
Confidence level:
Very confident
Comment:
Any inflexible attitude from lenders to borrowers in the Eurozone would carry serious risks for the economic well-being of the Eurozone. If the Eurozone is to prosper it requires compromise and mutual respect between countries with different interests. Refusal of the "core" to listen to the "periphery" will sooner or later lead to its disintegration

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Question 1: Do you agree that a Syriza victory on 25 January would lead to a significant or sustained escalation in spreads for other peripheral Eurozone countries?

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Answer:
Neither agree nor disagree
Confidence level:
Confident
Comment:
I expect it to happen mainly in Spain, because of the close relations between Podemos and Syriza and the forthcoming election in Spain. Italy will be unaffected. In other words, I don't think there will be general contagion but I also do not think there will be no response at all

2014 Autumn Statement

 

Question 2: Do you agree that the underperformance of tax receipts in recent years, provides a strong case for higher taxes?

Answer:
Strongly Disagree
Confidence level:
Extremely confident
Comment:
the underperformance is due to recession and it would be folly to increase taxes (especially when combined with cuts in spending) before the recovery is well and truly established. the budget should be balanced on average across the business cycle and not be subject to knee-jerk reactions to macroeconomic shocks

Question 1: Do you agree that the scale of this planned reduction in total managed expenditure is credible?

Answer:
Strongly Disagree
Confidence level:
Very confident
Comment:
of course, anything is possible if the Chancellor simply refused to give money for spending. But we have to be realistic and see it in the context of British political thinking and voter preferences. If such a cut were made the NHS would be so damaged, the labour market would so stagnate that the politics will win and the project abandoned.

Devolving Income Tax Powers within the UK

Question 2: Do you agree that that there is a clear economic case for establishing "English votes for English laws" with the same tax and spending powers as the Scottish Parliament?

Answer:
Strongly Agree
Confidence level:
Extremely confident
Comment:
I don't see any reason against it. Of course, there should be a UK Parliament making decisions about the UK but once powers have been devolved to a Scottish Parliament which takes into account Scottish preferences I don't see any economic argument in favour of having a UK Parliament, which will include Scottish MPs, accounting for /English preferences

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