This book examines the Eurozone crisis in light of theoretical and empirical evidence. The first half explores specific theoretical contributions within a framework of growth theory models to examine the two major pillars of the European construction, the European Central Bank and the Maastricht Treaty, and seeks to explain why they are theoretically wrong. The second half presents results of counterfactual simulations using the Oxford Econometric model and estimates what the Eurozone has lost in terms of economic and social cost from 2002 to 2014 as a consequence of the super-evaluation...