Download The Euro: How a Common Currency Threatens the Future of Europe AudioBook Free

Can Europe prosper with no euro? This year 2010, the 2008 global financial crisis morphed in to the "eurocrisis". It hasn't abated. The 19 countries of Europe that share the euro currency - the eurozone - have been rocked by financial stagnation and arrears crises. Some countries have been around in depression for a long time while the governing powers of the eurozone have careened from disaster to emergency, especially 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 strategies that can rescue the continent - and the earth - from further devastation. Hailed by its architects as a lever that could bring Europe collectively and promote success, the euro did the opposite. As Stiglitz persuasively argues, the crises discovered the shortcomings of the euro. Europe's stagnation and bleak prospect are immediate results of the fundamental challenges in creating a diverse group of countries share a currency - the euro was flawed at delivery, with financial integration outpacing political integration. Stiglitz shows the way the current structure stimulates divergence somewhat than convergence. The question, then, is: Can the euro be preserved? After laying bare the Western european Central Bank's misguided inflation-only mandate and explaining how eurozone regulations, especially toward the problems countries, have further revealed the zone's flawed design, Stiglitz describes three possible ways forward: important reforms in the structure of the eurozone and the regulations enforced on the member countries; a well-managed end to the single-currency euro experiment; or a daring, new system dubbed the "flexible euro". With its lessons for globalization in a global economy ever more deeply connected, The Euro is urgent and essential being attentive.

Category: European