The Euro: The Politics of the New Global Currency

David Marsh

Hardcover

ISBN 10: 0300127308 ISBN 13: 9780300127300

Publisher: Yale University Press, 2009

This book is the first comprehensive political and economic account of the birth and development of the Euro. Today the Euro is the supranational currency for fifteen European countries and the world's second largest reserve currency. David Marsh tells the story of the rivalries, intrigues, and deal-making that brought about a currency for Europe, and he analyzes the achievements and shortcomings of its first decade of existence. While the Euro represents a remarkable triumph of political will, great pressures are building on the single currency. Drawing on more than 100 interviews with leading figures associated with the Euro, and scores of secret documents from international archives, Marsh underscores the Euro's importance for the global economy, in particular for the U.S. and British economic and political agendas. Among the hidden facts and fresh insights laid out in this book: how the legacy of France and Germany's tortuous relations affects the Euro, why the UK is unlikely to accept the Euro before 2025, the impact on the Euro of the US credit crisis, how the Euro has rebounded against the aspirations of its founders, how Italy and Spain have massively lost competitiveness, and why radical changes must be adopted to prevent a European upheaval.

Review:

"... gripping ... The result is an indispensable guide to monetary union."

Book Description:

"... an exciting, interesting and very readable history of the euro ... not just for economists or financiers. It's a must-read."