The Tragedy Of The Euro

EuroTragedy is an incisive exploration of the tragedy of how the European push for integration was based on illusions and delusions pursued in the face of warnings that the pursuit of unity was based on weak foundations.

The European Union could soon be a thing of the past. Xenophobia is rampant and commonly reflected in elections across the continent. Great Britain may hold a referendum on whether to abandon the union altogether. Spurred by anti-EU sentiments due to the euro crisis, national interests conflict with a shared vision for the future of Europe. Is it too late to preserve the union that generated unprecedented peace for more than half a century? This is no mere academic question with limited importance for America and the rest of the world. In the past decade, the EU has declined from a unified global power to a fractious confederation of states with staggering unemployment resentfully seeking relief from a reluctant Germany. If the EU collapses and the former member states are transformed again from partners into rivals, the US and the world will confront the serious economic and political consequences that follow. In a series of revealing interviews conducted by Dr. Gregor Peter Schmitz, George Soros -- a man of vast European experience whose personal past informs his present concerns -- offers trenchant commentary and concise, prescriptive advice: The euro crisis was not an inevitable consequence of integration, but a result of avoidable mistakes in politics, economics, and finance; and excessive faith in the self-regulating financial markets that Soros calls market fundamentalism inspired flawed institutional structures that call out for reform. Despite the considerable perils of this period, George Soros maintains his faith in the European Union as a model of open society. This book is a testament to his vision for a peaceful and productive Europe.

Debate among politicians and academics alike vacillates as to whether the euro is the crowning achievement of a half-century of European integration efforts, or now constitutes a force that threatens to drive European Union member states apart. This book introduces both the political and economic forces at play in the eurozone crisis that have shaped this debate and changed the face of European integration.

Reveals how the nexus of international economics and national politics pushed the monetary union to the brink of extinction, how that disaster was avoided, and why the long-term viability of a common currency challenges politics.

The eurozone is in crisis. Spiralling debts, defaulting banks, high unemployment - the European dream of a united union appears to be over. All fingers point to the corrupt and greedy PIIGs: Portugal, Ireland, Italy, Greece and Spain. Profligate governments have exploited the system, squandered the benefits and now beg for bail-outs from those that prosper. But is it really that simple? Economist Vicky Pryce argues that, given the flaws at its conception, the eurozone has been doomed from the very start. Politicians ignored common sense and deliberately created a system based on political not economic motives. They failed to provide firewalls for inevitable crises and placed little emphasis on practical structural reforms for the countries that needed them. It was a recipe for disaster and Europe now reaps the whirlwind. Is it time for a Greek exit? Focusing on Greece - not only her home country but perceived as the main threat to the euro's survival - Pryce explores the history of the eurozone, the causes of the crisis and, damning the proposed official solutions as counterproductive, suggests a way out of the current mess.

A revelatory examination of the global impact of Emmanuel Macron's tumultuous presidency. A political novice leading a brand new party, in 2017 Emmanuel Macron swept away traditional political forces and emerged as president of France. Almost immediately he realized his task was not only to modernize his country but to save the EU and a crumbling international order. From the decline of NATO, to Russian interference, to the Gilets Jaunes (Yellow Vest) protestors, Macron's term unfolded against a backdrop of social conflict, clashing ambitions, and resurgent big-power rivalries. In The Last President of Europe, William Drozdiak tells with exclusive inside access the story of Macron's presidency and the political challenges the French leader continues to face. Macron has ridden a wild rollercoaster of success and failure: he has a unique relationship with Donald Trump, a close-up view of the decline of Angela Merkel, and is both the greatest beneficiary from, and victim of, the chaos of Brexit across the Channel. He is fighting his own populist insurrection in France at the same time as he is trying to defend a system of values that once represented the West but is now under assault from all sides. Together these challenges make Macron the most consequential French leader of modern times, and perhaps the last true champion of the European ideal.