From Jens Nordvig--named the #1 currency strategist in the 2013
Institutional Investor survey
What does the crisis in the Eurozone mean for our markets--and
how can you protect your portfolio against crises in Europe?
Little has been written about the instability of the Euro, but
it's a very real threat to investors worldwide, as well as to the
global economy. Swings in global asset markets have been
increasingly driven by developments in Europe. This is something
new: in the past, Europe was one of the most stable parts of the
global economy, and its typically minor economic fluctuations would
have little bearing on US equity markets.
Now, Europe's economic and political developments will be a
persistent source of shocks for global financial markets.
As an investor, you need a roadmap. This book is that
roadmap.
"The Fall of the Euro" describes the Eurozone's unstable
equilibrium and explains why a breakup of the Eurozone is still a
possibility.
Nomura's global head of currency strategy and one of the world's
top experts on the Euro, Jens Nordvig gives us a detailed and
fascinating explanation of this precarious situation, providing the
information, insight, and authoritative analysis you need to make
the wisest investment decisions possible.
A riveting analysis of one of the most important currencies in
the world--certainly the most unstable of the major
currencies--"The Fall of the Euro" covers: The history of the
Euro--and how it differs from other global currencies The
problematic origins of the Euro--which is grounded more in politics
than economics How politics will affect the next crisis in the
Eurozone--and what we can do about it What-if scenarios of Eurozone
breakup possibilities--with insights that will surprise you
The original version of the Euro was not resilient enough to
survive a major crisis. European policymakers are attempting to
construct a new version of the currency, but its specific form
remains highly uncertain. Will it be a hard currency? Will it be a
soft currency? Or will it break up?
If the path ahead involves a disorderly breakup of the Eurozone,
the instability to come will be much more intense than what we have
seen to date.
Go beyond the rhetoric of the politicians and the journalists
who write about them and get a financial expert's assessment of the
real issues at hand. Jens Nordvig explains the state of the Euro's
present position in the global economy with levels of objectivity
and expertise you will find nowhere else.
"The Fall of the Euro" gives you the critical information you
need to prepare your investments before the next crisis in the
Eurozone--which is, in Nordvig's view, inevitable.
Praise for "The Fall of the Euro"
""Nordvig brings a keen insight into markets and economics that
he ably combines with a brisk, no-nonsense narrative. This is
essential reading for market players, investors, and
prognosticators of the future of the eurozone."" -- Richard
Clarida, C. Lowell Harriss Professor of Economics and International
Affairs, Columbia University; Global Strategic Advisor, Pimco
""Jens Nordvig's book artfully combines a master economist's
framework, a seasoned market participant's advice, an historian's
far-reaching perspective, and a European citizen's passionate case
for an open discussion of the way forward for the world's largest
economic bloc."" -- Scott Bessent, Chief Investment Officer, Soros
Fund Management LLC
""Jens Nordvig was one of the first to analyze the economic,
legal, and political consequences of the euro splitting asunder.
Whether or not you share his pessimism about the future of the euro
project, Nordvig's guide to the crisis is a compelling and
essential read."" -- Gavyn Davies, Chairman of Fulcrum Asset
Management LLP, former Goldman Sachs Chief Economist
""In this bold, highly readable book, Jens Nordvig beautifully
highlights the tensions between the politics and the economics that
are at the heart of the euro crisis. A must read for anyone who
cares about the future of Europe."" -- Anil Kashyap, Edward Eagle
Brown Professor of Economics and Finance, University of Chicago
Booth School of Business
""I learned much from The Fall of the Euro and I thoroughly
recommend it."" -- Simon Wolfson, CEO of Next plc and sponsor of
the Wolfson Economics Prize
""Needs to be read by all those demanding brave policy from
Europe's timid elite."" -- Tom Keene, Editor at Large, Bloomberg
Television & Radio; Host of Bloomberg Surveillance
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