51 Following


Reading progress update: I've read 12 out of 672 pages.

EuroTragedy A Drama in Nine Acts - Ashoka Mody

I'm not even though the introduction, and I can already tell I'm going to have some philosophical issues with this book. Mody's argument that the whole European single currency was poorly thought out is one that I can buy, but I wonder to what degree he is overlooking the parallel political dynamics. True, fiscal union proved important to support monetary union. But setting aside the degree to which the EU provides development funds that function to a degree (albeit a limited one) as a common fiscal program, Europeans wreen't talking just about a monetary union in the 1960s, but a broader political one (e.g. the lofty goal of a "United States of Europe") as well. Hopefully Mody addresses this in his text, otherwise he is being excessively judgmental about the pursuit of monetrary union.