Magazine
Latest Issue

The bank that nearly broke Europe

The single currency's design isn't perfect. But what's really hampered its first 20 years, says Adam Tooze, are decisions freely taken by power-hungry men in Frankfurt

By Adam Tooze   September 2018

In the two decades that the euro has been around it has been branded as hopelessly and inherently flawed, a failure, and a tragedy for Europe. Its critics have blamed it for many things—from soup kitchens in Athens, to wild gyrations in the markets, and the arrival of angry populists in Rome.

Yet for all the charges, Europe’s single currency, and the European Central Bank (ECB)…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect