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The Euro Through a Glass Darkly

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  • Eichengreen, Barry

Abstract

On January 1st, Europe’s monetary union will celebrate its fifth anniversary. Congratulations are not exactly pouring in. For going on two years, growth in the countries of the Euro Area has been significantly slower than in the United States. Unemployment over much of the continent remains disturbingly high. The single currency has not been a tonic for Europe’s stagnant economy. To the contrary, numerous critics complain, the advent of the euro has only compounded Europe’s economic problems. This paper provides a review and analysis of the debate.

Suggested Citation

  • Eichengreen, Barry, 2003. "The Euro Through a Glass Darkly," Institute of European Studies, Working Paper Series qt2kt1w239, Institute of European Studies, UC Berkeley.
    • Handle: RePEc:cdl:bineur:qt2kt1w239
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