Lse Review of Book - London School of Economics and Political Science (Lse) - A Currency in Crisis – The Euro's Structural Fragility

My book review about Crisis Cycle offers a penetrating examination of the euro’s evolution from idealistic project to structurally fragile currency union. Drawing on the authors’ formidable blend of theoretical acuity, political economy insight and institutional memory, the book elucidates how successive crises have entrenched a self‑reinforcing dynamic of improvisation, moral hazard and institutional distortion. The review highlights the paradox whereby measures that preserved the euro in moments of peril simultaneously deepened its long‑term vulnerabilities. It concludes that meaningful reform—credible fiscal backstops, sovereign‑debt restructuring mechanisms and prudential redesign—is indispensable if the single currency is to endure with integrity.