The adoption and management of the common currency has led the Eurozone to a critical point. This book analyzes in an interdisciplinary way the fundamental causes of distress, making sure to relate economic issues to the social and political aspects of the problem. The book explores the reasons why the Eurozone has fallen into a policy trap, as well as what Europe did and should do to exit the crisis, and why this is proving to be so difficult. The book also considers what role the United States has played, and could play to help foster a solution for the Eurozone.

I. Transatlantic Linkages 1. Ken Ash, The Implications of Global Value Chains for Trade Policy and Trade Agreement 2. Iván Bélyácz and Erzsébet Szász, The Deeper Roots of the Financial System's Propensity to Crisis 3. Bruno Dallago, The Financial and Real Crisis in the Eurozone and Vulnerable Economies II. The Crisis and Policies: A Transatlantic Perspective 4. Steven Rosefielde, Secular Crisis: The Mundell-Fleming Trilemma and EU De-Legitimization 5. Quinn Mills, Assessment of the EU's management of the EZ crisis 6. Nicola Acocella, A Tale of two cities: Exit Policies in Washington and Frankfurt III. Institutions, Rivalry and the Consequences for Democracy 7. Simona Piattoni, Institutional Innovations and EU Legitimacy after the Crisis 8. Paul Blokker, The European Crisis as a Crisis of Democratic Capitalism 9. Layna Mosley, (De)Fault Lines? The EU, National Governments and Private Capital Markets in the Post-Crisis Era IV. The European Currency and Transatlantic Relations 10. Domenico Mario Nuti, Euroarea: Premature, Diminished, Divergent 11. Paolo Guerrieri, The Euro Crisis and its Impact upon Transatlantic Relations 12. Alfred Steinherr, Why Germany should leave the Euro 13. Roberto Tamborini, EMU 2.0 and the German Problem

John McGowan is a Professor of English at the University of North Carolina, USA, and is a specialist in cultural and political theory.

Bruno Dallago is Professor of Economics at the University of Trento, Italy. His research fields include economic policies, with particular concern for the European Union, local development and comparative economics.