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The 2008 crisis revealed the shortcomings of the Euro, and Europes stagnation and bleak outlook are a direct result of the fundamental flaws inherent in the EU project - economic integration outpacing political integration with a structure that promotes divergence rather than convergence. 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, Joseph E. Stiglitz outlines three possible ways forward: fundamental reforms in the structure of the Euro zone and the policies imposed on the member countries suffering the most, a well managed end to the European Union or a bold, new system dubbed the flexible Euro.
About the author
Joseph E. Stiglitz is a Nobel Prize-winning economist and the best-selling author of
People, Power, and Profits: Progressive Capitalism for an Age of Discontent; Globalization and Its Discontents Revisited: Anti-Globalization in the Era of Trump; The Price of Inequality; and
Freefall. He was chairman of the Council of Economic Advisers under President Clinton, chief economist of the World Bank, named by
Time as one of the 100 most influential individuals in the world, and now teaches at Columbia University and is chief economist of the Roosevelt Institute.
