The Euro, How a Common Currency Threatens the Future of Europe

Resumen del libro

The Nobel Prize winning economist and best-selling author explains why saving Europe may mean abandoning the euro.
The euro was supposed to bring Europe closer together and promote prosperity; in fact, it has done just the opposite. The 2008 crisis revealed the shortcomings of the euro, and Europe's stagnation and bleak outlook are a direct result of the fundamental flaws inherent in the EU project economic integration outpacing political integration with a structure that promotes divergence rather than convergence. The question then is: Can the euro be saved?

Laying bare the European Central Bank's misguided inflation-only mandate, and explaining why austerity has condemned Europe to unending stagnation, Joseph E. Stiglitz outlines three possible ways forward: fundamental reforms in the structure of the Eurozone and the policies imposed on the member countries suffering the most; a well-managed end to the European Union; or a bold, new system dubbed the flexible euro. With its lessons for globalization in a world economy ever more deeply connected, The Euro is urgent and essential reading.

Biografía del autor

Joseph E. Stiglitz es catedrático en Columbia University. Ha sido galardonado con el Premio Nobel de Economía y es autor de varios títulos de éxito sobre la globalización, la crisis financiera y la distribución de la riqueza.