The Fall of the Euro: Reinventing the Eurozone and the Future of Global Investing

From Jens Nordvig--named the #1 currency strategist in the 2013 Institutional Investor survey The euro started out with great promise, but it has seen major problems in the last few years. What will happen if Germany decides to drop the euro? Greece? Italy? Spain? How will your investments be affected? The financial crisis of 2007–2008 may have had its epicenter in the United States, but it exposed fault lines inherent in the euro. Some have given way, resulting in crises in Greece, Spain, Ireland, Cyprus, and other European nations. But if action isn’t taken soon, the whole European financial system might give way to a crisis the likes of which the world has never seen. Jens Nordvig describes the potential outcome as "financial anarchy." The Fall of the Euro is a detailed exploration of this precarious situation. As Nomura's global head of currency strategy, Jens Nordvig is among the world's top experts on the euro, and he provides the information, insight, and authoritative analysis you need to make the wisest investment decisions possible. A riveting analysis of one of the most important currencies in the world--certainly the most unstable of the major currencies--The Fall of the Euro covers: The history of the euro--and how it differs from other global currencies The problematic origins of the euro--which is grounded more in politics than economics How politics will affect the next crisis in the eurozone--and what we can do about it What-if scenarios of eurozone breakup possibilities--with insights that will surprise you Backing his conclusions with ample statistics and masterful insight into financial markets, Nordvig ties everything together in a compelling narrative that provides a clear picture of what has happened, what is happening, and what will likely happen in the near future of the eurozone. Go beyond the rhetoric of the politicians and the journalists who write about them and get a financial expert's assessment of the real issues at hand. Nordvig explains the state of the euro's present position in the global economy with levels of objectivity and expertise you will find nowhere else. The Fall of the Euro gives you the critical information you need to prepare your investments before the next crisis in the eurozone--which is, in Nordvig's view, inevitable. Advance Praise for The Fall of the Euro "Nordvig brings a keen insight into markets and economics that he ably combines with a brisk, no-nonsense narrative. This is essential reading for market players, investors, and prognosticators of the future of the eurozone." -- Richard Clarida, C. Lowell Harriss Professor of Economics and International Affairs, Columbia University; Global Strategic Advisor, Pimco "Jens Nordvig's book artfully combines a master economist's framework, a seasoned market participant's advice, an historian's far-reaching perspective, and a European citizen’s passionate case for an open discussion of the way forward for the world's largest economic bloc." -- Scott Bessent, Chief Investment Officer, Soros Fund Management LLC "Jens Nordvig was one of the first to analyze the economic, legal, and political consequences of the euro splitting asunder. Whether or not you share his pessimism about the future of the euro project, Nordvig's guide to the crisis is a compelling and essential read." -- Gavyn Davies, Chairman of Fulcrum Asset Management LLP, former Goldman Sachs Chief Economist "In this bold, highly readable book, Jens Nordvig beautifully highlights the tensions between the politics and the economics that are at the heart of the euro crisis. A must read for anyone who cares about the future of Europe." -- Anil Kashyap , Edward Eagle Brown Professor of Economics and Finance, University of Chicago Booth School of Business "I learned much from The Fall of the Euro and I thoroughly recommend it." -- Simon Wolfson, CEO of Next plc and sponsor of the Wolfson Economics Prize "Needs to be read by all those demanding brave policy from E