Joseph Stiglitz
The Nobel-winning economist’s provocative new book, The Euro, lays out why the European Union is mired in perpetual crisis
What’s the fundamental problem with Europe’s common currency? The diversity of Europe is its strength. But for a single currency to work, over a region with enormous economic and political diversity, is not easy. A single currency entails a fixed interest rate, which means countries can’t manage their own currency to suit their own needs. You need a variety of
