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The Nobel Prizewinning economist and best-selling author explains why saving Europe may mean abandoning the Euro. 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 new system dubbed the flexible Euro.

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The Euro was supposed to bring Europe closer together and promote prosperity; in fact, it has done just the opposite. 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. With its lessons for globalisation in a world economy ever more deeply connected, The Euro is urgent and essential reading.

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Joseph Stiglitz, geboren 1943 in den USA, war Professor für Volkswirtschaft in Yale, Princeton, Oxford und Stanford, bevor er 1993 zu einem Wirtschaftsberater der Clinton-Regierung wurde. Anschließend ging er als Chefvolkswirt zur Weltbank. 2001 wurde er mit dem Nobelpreis für Wirtschaft ausgezeichnet. Stiglitz lehrt heute an der Columbia University in New York und ist ein weltweit geschätzter Experte zu Fragen von Ökonomie, Politik und Gesellschaft. Er ist Autor mehrerer Bücher.

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