For weeks I have been trying to find a good way to review Joseph Stiglitz’s book, The Euro and its threat to the future of Europe. Allen Lane, Penguin Random House, 2016. Now I think I am ready, though I am not sure I am happy with it. We will see. What I know is that I want to talk about the relationship between Europe and the Euro having Stiglitz always present in my mind. I want to write about the relationship between the two because they are different things not simply because there are 28 countries making up the Union and only 19 of them adopt the Euro: they are different entities because the European Union precedes the Euro logically and historically. Thus, my basic question will be: what function does the Euro fulfil within Europe? What its role in the process of Union building –that ‘ever greater Europe that so distress our British friends lately? These are questions that, I believe, raise THE issue: why did we want the Union? And then why, in the process of building and strengthening the Union, we thought the Euro would be a good step forward, a leap, perhaps, in the right direction?
I am perfectly aware that these are very divisive issues in Europe today. Still, I hope that what I am about to write will stimulate rational thinking within a sensible debate among the people I am addressing these thoughts to, those who live the idea of Europe passionately. Not interested hearing from others, thank you.
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