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  • Published: 17 October 2016
  • ISBN: 9780241258163
  • Imprint: Penguin eBooks
  • Format: EBook
  • Pages: 304

The Euro

And its Threat to the Future of Europe




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 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.

  • Published: 17 October 2016
  • ISBN: 9780241258163
  • Imprint: Penguin eBooks
  • Format: EBook
  • Pages: 304

About the author

Joseph Stiglitz

Joseph Stiglitz was Chief Economist at the World Bank until January 2000. Before that he was Chairman of President Clinton's Council of Economic Advisors. He is currently Professor of Finance and Economics at Columbia University. He won the Nobel Prize for Economics in 2001.

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