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Publisher's Summary

Can Europe prosper without the euro?

In 2010, the 2008 global financial crisis morphed into the "eurocrisis". It has not abated. The 19 countries of Europe that share the euro currency - the eurozone - have been rocked by economic stagnation and debt crises. Some countries have been in depression for years while the governing powers of the eurozone have careened from emergency to emergency, most notably in Greece.

In The Euro, Nobel Prize-winning economist and best-selling author Joseph E. Stiglitz dismantles the prevailing consensus around what ails Europe, demolishing the champions of austerity while offering a series of plans that can rescue the continent - and the world - from further devastation.

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 direct results 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".

With its lessons for globalization in a world economy ever more deeply connected, The Euro is urgent and essential listening.

©2016 Joseph E. Stiglitz (P)2016 Audible, Inc.

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Dud

What disappointed you about The Euro?

This is a treatment free of data, analysis, theory, or anything other than vacuous polemics.<br/><br/>Almost the first hour of this thing is taken up by the author citing the many commissions on which he has served on, the many important people he has met, the books he has written, the schools he has taught at, etc., etc., ad nauseum. This must qualify as the most pompous, tedious introduction in the history of "literature" (to abuse that term in the present case).<br/><br/>Following the introduction there is a torrent of abuse aimed at free market economics, and<br/> at Germany, endlessly and tirelessly repeated, but without anything substantive to back it up. The author must think that if he repeats the same assertions enough times that translates into an argument.<br/><br/>If I were a professor at Columbia, where this fellow says he teaches, and a student handed in this thing, I would flunk him.<br/><br/>Don't waste your time.

What character would you cut from The Euro?

The author!

2 of 2 people found this review helpful

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Good Basic Premise but with wacky ideas thrown in.

His view on the Euro and its failings is first rate, especially the highlights on Greece e.g. 80% of the Greek bail out went to repay German banks on Greece's nickel. .

The book however is inter-spaced with anti free market propaganda which doesn't actually stack up; and which the listener needs to put in brackets as they listen

If he had left his Marxist soapbox oratory out and stuck to facts concerning the Euro it would be a briefer and better listen.

Again in the last chapters his basic premise on the having a regional Euro system, make great deal of sense then he throws in a completely unworkable system of his own devices that take away from the impact of his good ideas.

The final takeaway from this book however is a warning as to Germany's clear ambition to conquer Europe by financial means, after failing twice in the last century by militarily means.

1 of 1 people found this review helpful

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Unbelievable

The analisis and approach of the economic diferences and how they affect in different manner at each country, they are aspects I have not thougth before, as a supporter of a single currency. People is different, values are too, and certainly, because of that, ones suffer more than others. Amazing. It make me think twice on my preconceptions of economics. Written in a clear and simple way. With a very basic knowledge of economics, it is easy to follow. I strongly recommend it.

1 of 1 people found this review helpful

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ANY questions about the Euro? THIS IS IT!

What did you love best about The Euro?

Very comprehensive evaluation from inception to today. A bit negatively biased but very well documented and explained.

Any additional comments?

Strongly recommend for anybody that would like to better understand anything about the Euro. Stiglitz answers ALL the questions: What?, When?, Who? Why?, Why not? In summary: great job!

1 of 1 people found this review helpful

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A central planner and Keynesian to the heart view

The main idea to take from this book is "There must be more Europe or less Euro"

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Poorly constructed arguments, not worth your time

This book wasn’t for you, but who do you think might enjoy it more?

Someone who clearly supports socialism and government controlled markets.

Has The Euro turned you off from other books in this genre?

No, just from this author.

What three words best describe Alex Hyde White’s performance?

Good given material.

What reaction did this book spark in you? Anger, sadness, disappointment?

Disappointment at the poorly constructed arguments. Lacked an objective analysis of the issues in Europe. This book was clearly an attempt to please Mr. Soros, who was praised in the acknowledgements. In the author's overzealous attempts to paint Greece as victim only he offered one sided and biased evidence. A great deal of this evidence was weak.

Any additional comments?

To sum this book up: The EU us failing because government isn't playing a big enough role. The markets of Europe would be better off as "controlled" markets instead of "free" markets.

1 of 2 people found this review helpful

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  • Jim Fuqua
  • Hendersonville, TN United States
  • 06-23-17

Lessons from Past Problems

This is an excellent book. It is heavy with complex economics and his recommendations are contrary to current practices. I would like to see a book that presents a view defending past practices and justifying their disappointing results. Until then I will assume that Dr. Stiglitz is correct except possibly on climate change.

With the world population increasing at about 83 million people per year and no end in sight, I think that is a lost battle. Without population control and a decreasing population, it is hopeless. Population control is just not likely to happen due to religious taboos, human nature, and inertia.

0 of 1 people found this review helpful

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fascinating account of the euro

this book definitely gives a good account of why the Euro does not function the way that it was meant to.

0 of 1 people found this review helpful

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Very clear analysis

Very clearly describes what went wrong with the Euro, and what ought to be done.

0 of 1 people found this review helpful