Barry Eichengreen on the Euro (and five books on Europe) – an interview
With hindsight, was the euro a good idea? Will it come through the present crisis intact or will any country decide to leave? And what happens if they do? All this and more answered by the economics professor.
When we look back 50 years from now, what do you think we’ll say about the whole euro project?
I think we’ll say that it was dangerously premature but ultimately proved workable, and that governments eventually took the difficult steps needed to make it work because they essentially had no choice – because the costs of collapse were prohibitive.