The Euro

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.