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The Euro - How a Common Currency Threatens the Future of Europe (Hardcover)
Loot Price: R284
Discovery Miles 2 840
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(29%)
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The Euro - How a Common Currency Threatens the Future of Europe (Hardcover)
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List price R398
Loot Price R284
Discovery Miles 2 840
You Save R114 (29%)
Supplier out of stock. If you add this item to your wish list we will let you know when it becomes available.
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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
a direct result 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 reading.
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