The crisis of the euro became self-evident after the financial markets turmoil which took place during the summer 2007. The global financial crisis cast serious doubts about some dogmas put forward by the defenders of the libertarian capitalism, as the one on the efficiency of financial markets....

The introduction of the euro in 1999 is without any doubt one of the great achievements in the European integration process. In one bold stroke, national monetary sovereignty was abolished and transferred to a new European institution, the European Central Bank, that from then on became the...