mr. stiglitz, about your book. the euro how common currency threatens europe. europe is in the headlines a lot right few. not just because after currency crisis. recovery from a debt crisis. but now the migrant crisis. and conflict in syria. growth and nationalist parties. they have a lot of strain. talking about brexit there. but for you, when you look at europe, the biggest problem you see is the monetary union itself. are you predicting its demise or are you trying to save it? >> both. i really am trying to save it. this idea of bringing all of the countries of europe together, which is sometimes called the european project, is a visionary idea. they would have two world wars. they didn't want to repeat that. but they made a big mistake. they put the cart before the horse. they thought that forming a single currency would move them further along the way and they pushed this economic immigration, i think, before they created the political institutions that would make it work. and before there is enough solidarity to create the political institutions and conse

mr. stiglitz is a nobel prize-winning economist and the best-selling author of a number of titles including the great divide, the price of inequality, and globalization and its. [inaudible] he has written for vanity fair, political, the atlantic and harper. he brings us today his new book, the euro, how, how a common currency threatens the future of europe. can the euro be saved? after laying the misguided and explaining how euros policy, especially toward crisis countries have further exposed the flawed design, he outlines three possible ways forward. fundamental reforms in the structure of the eurozone and the policies imposed on the country, a a well-managed end to the single currency euro experiment, or, a bold new system dubbed the flexible euro. he the review calls this work arguments of compelling interest to economists and policymakers. without further ado, please do me in welcoming author joseph stiglitz. [applause] >> it's a real pleasure to be here again. maybe i should begin with a question, why should an american like me be writing about europe. doesn't america have enough prob

mr. stiglitz outlines steps forward, a well managed end to the single car insurance you euro experiment or a bold new system dubbed the flexible euro. reviews call this urgent of compelling interest to economists and policy maker. without further due please join me in welcoming author stigletz. >> it's a real pressure to be here again. maybe i should begin why should an american write about europe, doesn't america have problems of its own that should get our attention? well, actually, i think there are a number of reasons. i will come at the end why it's important ft. united -- for the united states. we like interesting experiments even when they aren't really great ideas. oh, okay. thank you. so what i said one of the reasons economists like me are interested in the euro is it's an interesting experiment and even if it was a foolish experiment, we don't have many experiences in economics and this is on a grand scale. unfortunately, even though it was founded as i will explain in a few minutes with the best of intentions, one can't base a grand experiment having as much implications for so

mr. stiglitz, about your book, "the euro, how common currency threatens the future of europe." and honestly europe is in the headlines a lot right now not just because of currency crisis, recovery from a debt crisis but now you have the migrant crisis, an outgrowth of the conflict in syria, the growth of the protectionalist, nationalist parties. they have a lot of strains. not even talking about brexit there. but for you, when you look at europe, the biggest fissure and problem you see is the monetary union itself. are you predicting its demise or trying to save it? >> both. i really am trying to save it. you know, this idea of bringing all the countries to europe together which is sometimes called the european project was a visionary idea. they had two world wars, they didn't want to repeat that but they made a big mistake. they put the cart before the horse, they thought that forming a single currency would move them further along the way and they pushed this kind of economic integration, i think, before they created the political institutions that would make it work and befo