A Nobel Alternative to the Current Euro System …  A new book by Nobel prize-winning economist Joseph Stiglitz suggests that the best way forward for the euro area is a "flexible euro," a system of different currencies under the same name fluctuating within certain limits. It's a new, ingenious riff on an idea that keeps popping up in discussions of the currency bloc's future …-Bloomberg

Economist Joseph Stiglitz wants to save the euro by making it flexible. This is an interesting approach, in part because it shows us clearly how elite dominant themes interact with each other in complex ways

The imposition of the euro itself was the proximate cause of Europe's difficulties, but the EU's problems are being exacerbated by powerful banking interests behind its initial founding.

Stiglitz's arguments regarding the euro seem sensible enough, but at this point, the problems run a good deal deeper than the currency.

We wrote about Stiglitz recently in an article HERE on a universal basic income. But in this new book, HERE, he makes euro proposals.

Stiglitz wants to preserve the EU and the euro by moving toward a "flexible euro" that would allow countries essentially to have the ability to customize the currency via rates and volume. "The value of the different euros would fluctuate, but within bounds that the policies of the euro zone itself would affect."

The UK Express comments on Stiglitz's proposal, HERE:

The euro needs to change, according to a top economist Joseph Stiglitz … He said leaders dreamed up the idea without a proper understanding of what a monetary union meant.  In an explosive new book, How To Save The Euro, the economist provides a scathing review of the bloc's current set-up.

Europe was not designed to deal with the differing economies of members, while its bureaucracy holds back growth, employment and stability, according to Stiglitz.

Stiglitz makes it sound as if the euro were merely a misapplication of a good idea. But we know this isn't true. As we wrote HERE, the top leaders of the EU understood very well that the euro would cripple certain EU countries. They wanted that to happen because a crisis would give them the justification to impose a deeper political union.

In a 2014 Daily Bell article entitled "EU Shock Report: Elites Plot a Europe 'Forged' by Crisis," we quoted top EU politico Romano Prodi, former president of the European Commission, as follows.

"Well, the difficult moments were predictable. When we created the euro, my objection, as an economist (and I talked about it with Kohl and with all the heads of government) was: how can we have a common currency without shared financial, economical and political pillars?

"The wise answer was: for the moment we've made this leap forward. The rest will follow … Then instead came the Europe of fear: fear of China, fear of immigrants, fear of globalisation. So it was clear that this crisis would arrive."

You can see quite, above, that Prodi asks Kohl how a euro would work in a system "without shared financial, economical and political pillars?"