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Is the Euro really the crowning achievement of half a century of European integration efforts? Quite the contrary: the Euro has now become a great threat to the European Union as such. Strains caused by the crisis have led to greater dissension among member states and a public recoil against greater integration. This book explains the impact which the ongoing Eurocrisis has already had on the member states and their inhabitants. It does so without assuming that the reader is already an expert on any of the topics addressed, making it a thorough and convenient introduction to the problem.

The European debt crisis has posed a challenge for many people to understand, both non-Europeans and Europeans alike. Even economists, finance specialists and market commentators are often uncertain of its causes or in the interpretation of events ongoing, or of past events that have taken place that then shaped the current situation. Typically this lack of understanding results from a lack of understanding of how European institutions work, the structure of European politics and the Eurozone, the economics of the financial system, or the relationship of debt markets to current government...