The diversity in the eurozone has costs and advantages, respectively, for countries whether they are confronted with an overvalued or undervalued euro. Rough estimations of these costs and benefits help to assess the adjustments that could lead to a sustainable eurozone. A purely financial type...

Building faith in a common future, which is at the core of the making of a common currency, has been declining since the turn of the 1980s. The economic neoliberalism that diffused worldwide after the collapse of the Gold Exchange Standard and the economic crisis of the mid 1970s challenged the...