The Euro: And its Threat to the Future of Europe

Description

The Nobel Prize-winning economist and bestselling author of Globalization and Its Discontents explains why saving Europe may mean abandoning the Euro Designed to bring Europe closer together, the euro has actually done the opposite- after nearly a decade without growth, unity has been replaced with dissent and enlargements with prospective exits. Joseph Stiglitz argues that Europe's stagnation and bleak outlook are a direct result of the fundamental flaws inherent in the euro project - economic integration outpacing political integration with a structure that actively promotes divergence rather than convergence. Money relentlessly leaves the weaker member states and goes to the strong, with debt accumulating in a few ill-favoured countries. The question now is- can the euro be saved? This important book, by one of the world's leading economists, addresses the euro-crisis on a bigger intellectual scale than any predecessor.

Joseph E. Stiglitz was Chairman of the President's Council of Economic Advisers 1995-7 and Chief Economist at the World Bank 1997-2000. He is currently University Professor at Columbia University, teaching in the Department of Economics, the School of International and Public Affairs, and the Graduate School of Business. He is also the Chief Economist of the Roosevelt Institute and a Corresponding Fellow of the Royal Society and the British Academy. He won the Nobel Prize for Economics in 2001 and is the bestselling author of Globalization and Its Discontents, The Roaring Nineties, Making Globalization Work, Freefall, The Price of Inequality and The Great Divide, all published by Penguin.

Highly readable ... passionately written ... this important book will unnerve millions * Sunday Telegraph * Stiglitz could hardly have timed The Euro better ... one of those economists with a rare ability to help readers understand complex ideas -- Philip Aldrick * The Times * Coolly analytical ... he is surely right: without a radical overhaul of its workings, the Euro seems all but certain to fail * Economist *