Europe's Economic Dilemma Author:John Mills This book analyzes the reasons why the European Union's growth has fallen during the last quarter of a century to little more than a third of its previous level. It concludes that the major reason has been politically driven attempts to lock EU currencies together in inappropriate economic circumstances. These have led to chronic deflation, risi... more »ng unemployment and falling investment and competitiveness as EU Member States, without exchange rate flexibility, have found themselves unable to compete with Germany. The book then turns to proposals for overcoming the EU's current economic shortcomings. It concludes that the way ahead is not to proceed with the single currency, but to use instead a much more accommodating monetary and macro-economic system.« less