The euro has been the worst governmental mistake since deflationary policy turned the 1929 crisis into a decade of depression. The book explains why European politicians and businessmen decided to circumvent democratic consent in order to lock their societies into a single European super-state and reap the advantages of monetary cartelization, pushing the Great Contraction towards a new Great Depression in Europe. It also shows that exit from the euro is indeed possible and how to minimize its ineluctable cost.
Jean-Jacques Rosa was one of the first, and one of the few, professional economists to consistently warn against the hazards of implementing a single currency and creating the "euro zone."
The author of more than ten books on political economy, Dr. Rosa is an economist who is familiar with finance, public choice, and organizational analysis of firms and other institutions. He likes to apply fundamental but non-technical (although rigorous) economic reasoning to social and political phenomena.
Dr. Rosa was an economic adviser to the French Prime Minister, 1997-1999. He founded the MBA program and two doctoral programs in business finance at the Inst. of Political Studies, Paris, which takes a practical and broad-based approach to the study of economic, political and social problems; he taught at Sciences Po from 1978 to 2008 and is now a Professor Emeritus.