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?Laying bare the European Central Bank's misguided inflation-only mandate and explaining why austerity has condemned Europe to unending stagnation, Stiglitz outlines three possible ways forward: fundamental reforms in the structure of the Eurozone and the policies imposed on the member countries suffering the most; a well-managed end to the euro; or a bold, new system he dubs the 'flexible euro;. This important book, by one of the world's leading economists, addresses the euro-crisis on a bigger intellectual scale than any predecessor.

The Euro: And its Threat to the Future of Europe

Business & Money

JOSEPH STIGLITZ

Economics

Penguin

Road To Freedom

Penguin books, limited

<p>The Roaring Nineties: Seeds of Destruction</p>

The Roaring Nineties : Seeds of Destruction

Allen Lane.

The Price of Inequality

<p>Growing inequality. The poor. Economics. Nobel Prize winning economist. Paperback.</p>

The Price Of Inequality

Penguin Press/Classics

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Books by JOSEPH STIGLITZ