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"Chorafas' sharp and bitter analysis of the history and state of Euroland may shock the reader, as it should. Greed and incompetence and selfish national interests have made Europe's grand achievement of a monetary union inoperable; the politicians deny the failure and postpone bold countermeasures. Reality will catch up with their illusions and their attempts to get along with maneuvers which constantly deteriorate the situation instead of boldly safeguarding Europe's future. Not a pleasant, but an extremely necessary book." Eike Jessen, Emiritus Professor, University of Technology, Germany
The drama of the common currency is a hot topic. The Euro was planned for the European Union's member states, bringing economically strong nations like Germany and Holland and weaker nations like Greece, Spain and Italy under one set of currency rules.
A dozen years of its implementation has shown that the planning was incomplete at best. Add to this the weight of a deepening debt crisis among western nations, which continues unabated, and Europe has a very deep financial hole to climb out of. In this work, Dimitris N. Chorafas provides the reader with evidence to poor political judgment, then delves into preparation for the foreseeable Euro breakup and confronts the redenomination risk associated to it.
A dozen years of its implementation has shown that the planning was incomplete at best. Add to this the weight of a deepening debt crisis among western nations, which continues unabated, and Europe has a very deep financial hole to climb out of. In this work, Dimitris N. Chorafas provides the reader with evidence to poor political judgment, then delves into preparation for the foreseeable Euro breakup and confronts the redenomination risk associated to it.
