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The best book written on EMU woes is EuroTragedy: a Drama in Nine Acts by Princeton Professor Ashoka Mody, the International Monetary Fund’s former deputy director in Europe.

A report three years ago by a group of eminent economists for the Delors Institute warned that the eurozone will remain unworkable unless it embraces some form of fiscal union and debt pooling.

“At some point, Europe will be hit by a new economic crisis. We do not know whether this will be in six weeks, six months or six years. But in its current set-up the euro is unlikely to survive that coming crisis,” they said. Nothing was done. 

Bernard Connolly, the high priest of eurosceptic theory 

 Ambrose 4 September 2019



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