Parliamentary work

In May 2014, I was elected to the European Parliament for the social democrats, representing my constituency Thuringia. As a member of the Committee on Economic and Monetary Affairs (ECON), my current legislative focus is on bank structural reform, aimed at better addressing the too-big-to-fail problem of large banks and better protecting taxpayers in future financial crises. More broadly, I am especially concerned about the threat of prolonged stagnation with very low economic growth and very low inflation if not deflation in the euro area. This would hurt the economy of Thuringia and of Germany overall, could have devastating consequences in crisis countries where the young generation must not turn into a lost generation, and might even turn into an existential threat for the European construction. In order reliably to avert such a scenario, a combination of further growth enhancing reforms, a substantial European investment drive and unconventional monetary policy at the zero lower bound is likely to be needed. Ideally, such policies would be combined with an agenda of institutional reform to turn the common currency into a more successful and more solid construction, possibly along the lines suggested by the Glienicke group