The Euro how a common currency threatens the future of Europe

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Book Review: The Euro How a Common Currency Threatens the Future of Europe Student’s Name Institution Affiliation Book Review: The Euro How a Common Currency Threatens the Future of Europe With a common currency and increased integration between member states, the European Union (EU) was supposed to move further away from economic crises and cross-border turmoil and move towards economic, social, and political integration. However, recurrent recessions have been a common feature in the Eurozone, which led the author to comment on the problems and solutions of the single currency project in Europe. Joseph E. Stiglitz is a Nobel-Prize winning economist, who has worked closely with most of the European governments within the crisis countries offering economic advice. He also served as the chairperson of the Council of Economic Advisers during the reign of President Bill Clinton in America and chief economist in the World Bank CITATION Sti16 l 1033 (Stiglitz, 2016). The aim of the book, he says, is to provide a guide for which Europe can use to reconstruct its currency arrangements to achieve an economy that supports stability, prosperity, strengthened democracy, and social cohesion. This paper will review the key knowledge points presented in the book to determine the effectiveness of the book in fulfilling its objectives. The main idea of the book is that the existing financial system in the Eurozone is marked for failure and failure to make adjustments could lead to the fall of the Euro. Stiglitz argues that the crisis that is being experienced by the member states in the Eurozone dates back to its inception in 1992 CITATION Cou92 l 1033 (Council of the

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