The Euro

How a Common Currency Threatens the Future of Europe

By: Joseph E. Stiglitz

Narrated by: Alex Hyde White

Can Europe prosper without the euro?

In 2010, the 2008 global financial crisis morphed into the "eurocrisis". It has not abated. The 19 countries of Europe that share the euro currency - the eurozone - have been rocked by economic stagnation and debt crises. Some countries have been in depression for years while the governing powers of the eurozone have careened from emergency to emergency, most notably in Greece.

In The Euro, Nobel Prize-winning economist and best-selling author Joseph E. Stiglitz dismantles the prevailing consensus around what ails Europe, demolishing the champions of austerity while offering a series of plans that can rescue the continent - and the world - from further devastation.

Hailed by its architects as a lever that would bring Europe together and promote prosperity, the euro has done the opposite. As Stiglitz persuasively argues, the crises revealed the shortcomings of the euro. Europe's stagnation and bleak outlook are direct results of the fundamental challenges in having a diverse group of countries share a common currency - the euro was flawed at birth, with economic integration outpacing political integration. Stiglitz shows how the current structure promotes divergence rather than convergence. The question, then, is: Can the euro be saved?

After laying bare the European Central Bank's misguided inflation-only mandate and explaining how eurozone policies, especially toward the crisis countries, have further exposed the zone's flawed design, Stiglitz outlines three possible ways forward: fundamental reforms in the structure of the eurozone and the policies imposed on the member countries; a well-managed end to the single-currency euro experiment; 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 listening.

©2016 Joseph E. Stiglitz (P)2016 Audible, Inc.

fascinating account of the euro

this book definitely gives a good account of why the Euro does not function the way that it was meant to.

Very clear analysis

Very clearly describes what went wrong with the Euro, and what ought to be done.

ANY questions about the Euro? THIS IS IT!

What did you love best about The Euro?

Very comprehensive evaluation from inception to today. A bit negatively biased but very well documented and explained.

Any additional comments?

Strongly recommend for anybody that would like to better understand anything about the Euro. Stiglitz answers ALL the questions: What?, When?, Who? Why?, Why not? In summary: great job!

not bad, but could have been set in 20 pages

some interesting conceots and ideas, but why did it have to be so long and go over and over and over and over again over the same things?

A central planner and Keynesian to the heart view

The main idea to take from this book is "There must be more Europe or less Euro"