Sylvester Eijffinger's picture
Affiliation: 
CentER, Tilburg University
Credentials: 
Professor of Financial Economics
President of Tilburg University Society

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:
The regulatory oversight of cryptocurrencies needs to be increased by the ECB, Federal Reserve and Bank of England because of the threat to the stability of the financial system (see question 1) by undermining the monopoly of money creation by the central banks and the ineffectiveness of conventional and unconventional monetary policy and by the systemic risk of cryptocurrencies.

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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:
Strongly agree
Confidence level:
Extremely confident
Comment:
The increase of volume of cryptocurrencies, the launching of Europe’s first Bitcoin mutual fund and the U.S. acceptance to list futures contracts on Bitcoin imply a threat to the stability of the financial system in the coming years on which the ECB and Federal Reserve should act upon. The Bitcoin bubble is an example of a speculative bubble that can be explained rationally from an individual perspective but not from a collective perspective and is comparable with Tulpenmania.

House Prices and the UK economy

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Question 2: Do you agree that a more widespread weakening of the UK housing market will slow UK GDP growth significantly?

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Make sure to save each question separately

Answer:
Agree
Confidence level:
Very confident
Comment:
The more widespread weakening of the UK housing market will certainly slow UK GPD growth significantly because it is accompanied by the uncertainty about the financial and trade relations with the European continent caused by the Brexit negotiations and the unclear British positions.

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Question 1: Do you agree that the phenomenon of declining house prices will ripple out from the London property market leading more UK regions to experience falling prices?

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Answer:
Agree
Confidence level:
Very confident
Comment:
The declining house prices are accelerated by the perspective of Brexit and will lead to falling house prices in more UK regions, especially those regions that are affected mostly by Brexit.

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
Comment:
In the long run the benefits of euro membership exceed the costs but this doesn't have to be the case in the short run. The convergence criteria set in the Treaty of Maastricht are necessary but not sufficient conditions for euro membership. The decision to join shouldn't be an automatic one.

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