The More It Changes, the More It Stays the Same

  • Francesco M. Bongiovanni


Nothing much has happened with the euro since 2012 as the currency crisis abated, bringing about a dangerous feeling of complacency. No substantial reforms have been undertaken to correct the original flaws plaguing the single currency’s architecture as a result of which the euro remains at the mercy of the next crisis waiting to happen. This chapter reminds us of how the euro crisis was misdiagnosed as a fiscal one and how the wrong medicine of across-the-board austerity was administered, worsening the situation. The so-called bailout of Greece was in fact a disguised bailout of foreign creditor banks promoted by ideologically driven parties that have not been shy about advancing their own interests.

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© The Author(s) 2018

Authors and Affiliations

  • Francesco M. Bongiovanni
    • 1
  1. 1.

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