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The Tragedy of the Euro

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The Tragedy of the Euro  
Tragedy of the Euro book cover.jpg
Author(s) Philipp Bagus (Foreword by Jesús Huerta de Soto)
Country United States
Subject(s) Economics, Economic history
Genre(s) Non-fiction
Publisher Ludwig von Mises Institute
Publication date 2010
Media type Print, Digital
Pages 142 p.
ISBN 9781610161183
OCLC Number 699513237

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.

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