Euro
British Pound
Product Description
Blending economic analysis with political drama, EuroTragedy -chosen by both Foreign Affairs and The Financial Times as one of the best books of 2018-is a groundbreaking account of the euro's early history.
In this vivid and compelling chronicle, Ashoka Mody describes how the euro improbably emerged through a narrow historical window as a compromise wrapped in pro-European rhetoric of peace and unity. Drawing on his frontline experience as an official with the IMF, Mody situates events in a fast-paced global context and guides the reader through the forced-and unforced-errors Eurozone authorities committed during their long financial crisis. The decision to switch from national currencies to the euro unfolded as both economic and political tragedy. It weakened the growth potential of member states, which made financially vulnerable Europeans more anxious. It deepened perceptions of unfairness and widened the division between nations.
Now, the burden falls on younger Europeans, a generation with a discouragingly bleak future. A compassionate view of European possibilities, EuroTragedy argues that the euro's structural flaws will continue to haunt the continent. Instead of centralizing authority to prop up an ossified pro-Europeanist model, it is time to loosen ties that bind too tightly so that a liberal order can once more flourish.
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