In Euro Exit: Why (and How) To Get Rid of the Monetary Union, economist Jean-Jacques Rosa delivers a compelling critique of the Eurozone and its failure as a single currency area. This book explores the historical, political, and economic decisions that led to the creation of the euro and its devastating effects on European economies. Rosa argues that the euro represents one of the worst governmental mistakes since the policies that turned the 1929 crisis into the Great Depression. By circumventing democratic processes, European elites locked their nations into a flawed monetary union, pushing Europe into a prolonged recession and stagnation.
The Flaws of a Single Currency: The author begins by examining the economic reasons why the eurozone is not an optimal currency area. He presents a rigorous analysis of how the euro exacerbated the Great Recession in Europe, creating economic imbalances and stifling growth. Rosa’s critique of monetary cartelization and its consequences is both accessible and incisive, offering readers a clear understanding of the systemic issues underlying the euro’s failure.
The Origins of the Euro Crisis: Drawing on his earlier prescient work, Euro Error, Rosa revisits the flawed logic behind the euro’s creation. He explains how political ambitions and economic short-sightedness led to a monetary union that disregarded the diverse economic realities of its member states. By locking European nations into a single currency, leaders prioritized centralized control over democratic consent, leading to widespread economic instability and public discontent.
Challenging the Dogma of No Exit: One of the book’s most groundbreaking insights is its rejection of the prevailing belief that exiting the euro is impossible without catastrophic consequences. Rosa critiques this dogma, exposing the sophistry behind claims of financial apocalypse. He offers a pragmatic and carefully outlined plan for dismantling the euro while minimizing economic disruption. His analysis includes detailed steps for restoring independent monetary policies, stabilizing financial systems, and returning Europe to a path of sustainable growth.
A Vision for Economic Recovery: Through nontechnical yet rigorous economic analysis, Rosa provides readers with a roadmap for overcoming the euro crisis. He outlines how European economies can reclaim monetary sovereignty, rebuild their financial systems, and foster economic resilience. His clear writing and accessible style make this book an essential resource for policymakers, economists, and anyone concerned about Europe’s economic future.
Euro Exit is a timely and essential contribution to the ongoing debate about the future of the Eurozone. It combines historical insight, economic expertise, and practical solutions to address one of the most pressing issues facing Europe today. Whether you are a student of economics, a policymaker, or simply an engaged citizen, this book will challenge your assumptions and provide you with a deeper understanding of the euro’s impact and the way forward.
Join Jean-Jacques Rosa as he dismantles the myths surrounding the euro and offers a bold vision for reclaiming economic stability and democracy in Europe. This is a must-read for anyone interested in the intersection of economics, politics, and public policy.
Jean-Jacques Rosa was one of the first, and one of the few, professional economists to consistently warn against the hazards of implementing a single currency and creating the "euro zone." The author of more than ten books on political economy, Dr. Rosa is an economist who is familiar with finance, public choice, and organizational analysis of firms and other institutions. He likes to apply fundamental but non-technical (although rigorous) economic reasoning to social and political phenomena. Dr. Rosa was an economic adviser to the French Prime Minister, 1997-1999. He founded the MBA program and two doctoral programs in business finance at the Inst. of Political Studies, Paris, which takes a practical and broad-based approach to the study of economic, political and social problems; he taught at Sciences Po from 1978 to 2008 and is now a Professor Emeritus.
