SOCIAL SCIENCES

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

by Joseph E. Stiglitz
Norton. Aug. 2016. 304p. illus. notes.index. ISBN 9780393254020. $28.95; ebk. ISBN 9780393254037. ECON
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According to Nobel Prize-winning economist Stiglitz (economics, Columbia Univ.; The Great Divide), the creation of a single currency, the euro, for the European Union (EU) was a mistake. This book details both the problems as well as potential solutions. The 2008 financial crisis tested global economies, and in Europe, economics and politics remained out of sync, without sufficient structures in place to accommodate the economic diversity of the EU member countries. The first three parts of the text look at the issues, in both policy and structure, of a single currency for such diverse member nations, while the final section offers viable options for moving forward, including reforms, a more flexible single currency, or eliminating the euro altogether.
VERDICT Stiglitz does not provide a history of the euro or the EU, but rather focuses on the economic implications and alternatives to the euro as it is today and could be in the future. This title will appeal to those with an interest in economics and politics.
Reviewed by Elizabeth Nelson, McHenry Cty. Coll. Lib., Crystal Lake, IL , Aug 01, 2016
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