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markk

markk

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

EuroTragedy A Drama in Nine Acts - Ashoka Mody

I will admit, this is a book that wore down my skepticism. In essence Mody's argument is that the single European currency was corrupted from the start by nationalism: by France's insistence on it as a way of shoring up their declining economic status, by Germany's unwillingness to accept the concomitant fiscal structure necessary to make a single currency function succeed across such diverse national economies, and by the insistence of smaller nations on joining the euro out of pride and a desire to belong. But his book is polemical AF; he has the economist's arrogance about politics in spades, and he underrates the consequences of rolling back the euro now.