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From Nobel Prize-winning economist and best-selling author Joseph Sitglitz- author of Globalization and Its Discontents- this is the essential- must-read guide to the future of Europe. Solidarity and prosperity fostered by economic integration: this principle has underpinned the European project from the start- and the establishment of a common currency was supposed to be its most audacious and tangible achievement. Since 2008- however- the European Union has ricocheted between stagnation and crisis. The inability of the eurozone to match the recovery in the USA and UK has exposed its governing structures- institutions and policies as dysfunctional and called into question the viability of a common currency shared by such different economies as Germany and Greece.Designed to bring the European Union 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 Europes 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 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 then is: Can the euro be saved?Laying bare the European Central Banks misguided inflation-only mandate and explaining why austerity has condemned Europe to unending stagnation- Stiglitz outlines the fundame... Please click here to ask a question
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