Abstract
Whither the EURO? This question has taken on heightened, global significance in the wake of the EURO-zone financial crisis that emerged in 2010 and remains ongoing. Answers, or at least approaches to answers, are important not only to bail outs of Greece, Ireland, Portugal and Cyprus, but also Spain, Italy and the whole of the European Union, including Britain before and after BREXIT and other non-EURO members. Indeed, they are critical for the stability of the financial world as we know it. In this essay, my approach to these questions is historical. In order to understand whither the EURO, it helps to understand whence it came. I explore the design and origins of the EURO. Systemic flaws that emerged early in that history have continued to haunt the EURO. Whether these flaws can be remedied and at what cost becomes the central focus of this essay.
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