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The euro could be nearing a crisis – can it be saved? | Joseph Stiglitz

It was supposed to bring shared prosperity, but instead it has slowed growth and sown discordThe euro may be approaching another crisis. Italy, the eurozone’s third largest economy, has chosen what can at best be described as a eurosceptic government. This should surprise no one. The backlash in Italy is another predictable (and predicted) episode in the long saga of a poorly designed currency arrangement, in which the dominant power, Germany, impedes the necessary reforms and insists on policies that exacerbate the inherent problems, using rhetoric seemingly intended to inflame...

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Published By: theguardian.com - 5 days ago