Joseph Stiglitz lecture on the Euro (based on a new book)

Zanimivo predavanje Josepha Stiglitza o evru včeraj v Amsterdamu (na podlagi njegove nove knjige The Euro: How a Common Currency Threatens the Future of Europe) in kasnejša diskusija z Jeroenom Dijsselbloemom, šefom evroskupine (in krvnikom Grčije).

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Hailed by its architects as a lever that would bring Europe together and promote prosperity, the euro has done the opposite. As Stiglitz persuasively argues, the crises revealed the shortcomings of the euro. Europe’s stagnation and bleak outlook are a direct result of the fundamental challenges in having a diverse group of countries share a common currency―the euro was flawed at birth, with economic integration outpacing political integration. Stiglitz shows how the current structure promotes divergence rather than convergence. The question then is: Can the euro be saved?

After laying bare the European Central Bank’s misguided inflation-only mandate and explaining how eurozone policies, especially toward the crisis countries, have further exposed the zone’s flawed design, Stiglitz outlines three possible ways forward: fundamental reforms in the structure of the eurozone and the policies imposed on the member countries; a well-managed end to the single-currency euro experiment; or a bold, new system dubbed the “flexible euro.”

One response

  1. Dijsselbloem je idijot…Neverjetno, kako so lahko tako ozkogledi in nerazgledani ljudje na tako pomebnih funkcijah v EU. Groza. Ko poslušaš njegove popolnoma zgrešene “out of touch” komentarje se zaveš, da je EU definitivno mrtev projekt. Amen.

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