The Euro Trap, the latest book by Hans-Werner Sinn, President of the Ifo Institute, has been released today by Oxford University Press. Based on his German best-seller Die Target-Falle, the new book is a significantly restructured, expanded and updated analysis of the genesis and evolution of the euro crisis, providing new insights into the economic dimensions of the measures taken to combat the crisis, those that should have been pursued instead, and those that will have to be taken to really help southern Europe to exit the crisis.
In nine chapters distributed across nearly four hundred pages, the book combines academic rigour and accessibility for the layman, as well as a wealth of charts and tables, to provide answers to the most important questions about the euro crisis: Why was the euro adopted at all, given that it exhibited so many obvious flaws? Why were some countries pummelled so brutally by the crisis, while others came through almost unscathed? What explains Germany’s current economic buoyancy? Why has the crisis dragged on for so long? Is the crisis really over, or just in abeyance? What can be done to prevent a recurrence? And, no less important, what needs to be done to successfully complete the European integration project?
The book has earned high praise from some of the world’s brightest economic minds. Read their comments here.