The Euro Zone Currency System: Catalyst or Wrecking Ball?

Series: Changing of the Guard? Hong Kong 2013
Published: April 8, 2013
  • Erik Berglof
  • Dennis Snower
  • Lars Feld

The flaws in the euro zone single currency system that were uncovered by the crisis of 2008 have crippled many European nations for more than four years.  Self-fulfilling sovereign debt default spirals, persistent intolerable levels of unemployment, and disputes over the proper role for the European Central Bank are telltale symptoms of a social and economic system in disarray.  What can be done to fix this system? Can it be repaired and once again become the basis for a hopeful and balanced integration of Europe?

Series:Changing of the Guard? Hong Kong 2013
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