The Tragedy of the Euro

The Tragedy of the Euro is a book by German economist Philipp Bagus. The text explores the European Central Bank and the economic crisis in the European Union and its currency the Euro.

In a Faculty Spotlight Interview with the Mises Blog, Bagus explained the purpose of this work:

"We have heard much about the Fed but no one talks about the ECB. In my new book The Tragedy of the Euro, I answer this question and analyze the workings of the European monetary system and compare it to the Fed's. A decisive distinction is that in the European monetary system several independent governments may use the printing press, i.e., the ECB, in order to finance their deficits. This setup contains explosive incentives. … The main message is that in its current form the system is self-destructive, it is a tragedy of the commons."

Links

 * with the complete book in PDF and EPUB format
 * Foreword by Jesús Huerta de Soto
 * Foreword (Slovak edition) by Juraj Karpis
 * Audio reading by Keith Hocker
 * Excerpt "Two Visions for Europe"
 * Excerpt "The EMU as a Self-Destroying System"


 * Articles, essays and reviews
 * Cobden Centre review: "The Tragedy of the Euro" by Andy Duncan, February 2011 (excerpted as Mises Daily here)
 * The Free Market: "Bagus Gets it Right" (PDF) by Patrick Barron, February 2011 (republished as Mises Daily here)
 * "Europe's Tragic Crisis" by David Howden, January 2011
 * "The EU Crackup" by Llewellyn H. Rockwell Jr., April 2011
 * "The Euro Debt Crisis and Economic Theory" by Kel Kelly, February 2011
 * "Bagus Explains the ECB and the Euro" by Jeffrey Tucker, December 2010
 * "The Irish Subjugation" by Philipp Bagus, November 2010
 * "The Eurozone Stimulus Package and Economic Fundamentals" by Frank Shostak, May 2010
 * "The Bailout of Greece and the End of the Euro" by Philipp Bagus, February 2010
 * "Is the Euro Forever?" by by Grant M. Nülle, July 2005
 * "On the edge" The Economist, July 2011


 * Other media
 * In Studio: "Currency and Economic Collapse" interview with Philipp Bagus, March 2011 (YouTube)
 * Authors Forum: "Tragedy of the Euro & Deep Freeze" lecture by Philipp Bagus, March 2011 (YouTube)
 * Cobden Centre Radio: "Philip Bagus Interview" March 2011
 * "CrossTalk" on Russia Today: "Euro DOA?" interview with Philipp Bagus, June 2011
 * "The Tragedy of the Euro" lecture by Philipp Bagus, May 2012