The Euro and its threat to the future of Europe - Joseph E. Stiglitz

Designed to bring the European Union closer together, the euro has actually done the opposite: after nearly a decade without growth, unity has been replaced with dissent and enlargements with prospective exits. Joseph Stiglitz argues that Europe s stagnation and bleak outlook are a direct result of the fundamental flaws inherent in the euro project - economic integration outpacing political integration with a structure that promotes divergence rather than convergence. Money relentlessly leaves the weaker member states and goes to the strong, with debt accumulating in a few ill-favoured countries. The question then is: Can the euro be saved?