Joseph Stiglitz, The Euro an Unfinished Project

Economics Nobel Prize Joseph Stiglitz says that the bailouts were bailouts for the lenders the big banks , a more political integration was needed in order to make the Euro work he said optimistically the Euro was an unfinished project and there will be ultimately a crisis , he claims that many America economists and commentators expected a crisis to occur in Europe with the Euro. He outlines the two conceptions about how the Euro failed. The only way to save the Euro is to create a real commitment to make sure the failing economies can re-pay their debts.



Joseph E. Stiglitz Bio : Joseph E. Stiglitz is University Professor at Columbia University, the winner of the 2001 Nobel Memorial Prize in Economics, and a lead author of the 1995 IPCC report, which shared the 2007 Nobel Peace Prize. He was chairman of the U.S. Council of Economic Advisors under President Clinton, and chief economist and senior vice president of the World Bank for 1997-2000.

Stiglitz received the John Bates Clark Medal, awarded biennially to the American economist under 40 who has made the most significant contribution to the subject. He was a Fulbright Scholar at Cambridge University, held the Drummond Professorship at All Souls College Oxford, and has also taught at M.I.T, Yale, Stanford, and Princeton. He is the author most recently of Freefall: America, Free Markets, and the Sinking of the Global Economy.