How (Not) To Think About The Euro (Joseph Stiglitz, Part 2)
- “It was a mistake to start the euro … There will be a cost to breaking it up, but over the last 8 years the euro has generated enormous costs for Europe. The cost of keeping the Eurozone together probably exceeds the cost of breaking it up. It’s clearly a failure … There was no economic imperative to create the euro.” [Jos. Stiglitz, 2016]
Five years ago, Joseph Stiglitz made the case that the Eurozone is essentially a failure, and should be broken up.
Stiglitz was and is “a leading progressive voice in the U.S.,” to the…