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Email this citationCIAO DATE: 10/03
The Euro Through a Glass Darkly
Barry Eichengreen
September 2003
University of California, Berkeley
Center for German and European Studies
Abstract
On January 1st, Europe's monetary union will celebrate its fifth anniversary. Congratulations are not exactly pouring in. For going on two years, growth in the countries of the Euro Area has been significantly slower than in the United States. Unemployment over much of the continent remains disturbingly high. The single currency has not been a tonic for Europe's stagnant economy. To the contrary, numerous critics complain, the advent of the euro has only compounded Europe's economic problems.
