From Jens Nordvig--named the #1 currency strategist in the 2013 Institutional Investor survey

Preface ixAcknowledgments xiiiIntroduction xvPART I The Euro: The Early Years 1Chapter 1 The Premature Celebration 3Chapter 2 The Birth of the Euro:A Grand Political Bargain 13Chapter 3 The Euro's Honeymoon Years 33Chapter 4 The Euro Crisis:Waves of Escalating Tension 49PART II European Integration: The Difficult Path 73Chapter 5 The Big Choice:More or Less Integration? 75Chapter 6 The Revenge of Realpolitik:Europe's Dilemma 83Chapter 7 An Involuntary Gold Standard:The Economics of Infl exibility 99Chapter 8 Where's the Growth?:The Cost of Deflation 109Chapter 9 Europe's Political Fragility:The Seeds of the Next Crisis 123PART III The Mechanics and Implications of Breakup 141Chapter 10 When a Currency Splinters 143Chapter 11 The Devil's Guide to a Eurozone Breakup 153Chapter 12 What's the Worst-Case Scenario? 163Chapter 13 Who Should Stay and Who Should Go?:The Economics of Exit 175PART IV The Future Euro: Investment Implications 191Chapter 14 Europe at the Center:Europe's Effect on Global Financial Markets 193Chapter 15 A Road Map for the Future Euro 203Afterword 221Data Appendix:The Breakdown of Eurozone Debts 227Bibliography 229Notes 235Index 249