European Union and Monetary Union in Permanent Crisis II

The book critiques the collapse of the European Monetary Union established by the Maastricht Treaty, highlighting issues such as permanent rescue mechanisms and joint liability that have transformed it into a fiscal union with redistributive features. It raises concerns over bond-purchasing programs that threaten the independence of the European Central Bank. In response to these challenges, the author proposes a parallel currency concept aimed at restoring functionality to the common currency system.