Why a Single Currency Works in the US, but Not Very Well in Europe: Three Minimal Conditions for the Eurozone to Function

© 2015 Prof. Farok J. Contractor, Rutgers University America has been using a single currency since 1793, when the United States Mint in Philadelphia first began issuing US dollar coins. However, it is not the longevity of a currency that determines whether it succeeds, but institutional mechanisms. Such mechanisms are weak or lacking in Europe. … Continue reading Why a Single Currency Works in the US, but Not Very Well in Europe: Three Minimal Conditions for the Eurozone to Function