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Joseph Stiglitz and the Euro

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I do read a wide range of writers on finance and economics so please do not get the impression that another review of a Stiglitz book suggests hes my only port of call. That would be very unlikely under any event considering his politics are fairly firmly to the left although they are sensibly adrift of the current Uk opposition

The reason for this review is that this is a highly topical book and it is in his indomitable style, very readable. Maybe a few pages too long but and a shade receptive in places but absorbing all the same

The central themes of the book are how to save the euro, why the present solutions are wrong and whos is to blame. I need not give too much away but I felt a slight half heartedness in the solutions to save simply because how do you enthuse about saving something you do not believe should have existed in the first place? Which he certainly doesn’t

When it comes to attributing blame he most certainly pins inflexibility and a lack of imagination on Germany abut  is probably far too generous towards the mismanaged economies across southern europe. However its the final chapter on Brexit which is most eye catching. This isnt solely because we are more curious about the UK angle than the Euro but because he really hits his stride and his wide ranging contempt for the failures of the EU come to the fore. He is pretty optimistic about the UKs future outside the zone and I believe rightly signals that the effect of “trade agreements” on trade is wildly exaggerated

For that chapter alone the book is worth buying

 

 

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