The book illustrates the historical roots of the institutions and policies at the core of the European Union, which are largely based on the operation of free markets and a common monetary policy. It analyzes the imbalances caused by both these institutions and reemerging populism, suggesting possibilities for future conditions and reforms.

Analyzes the roots of Europe's economic decline, examining institutions of the European Union and exploring possibilities for reform.

'This is an excellent book on the economic, financial, and institutional integration of Europe, its crisis periods, challenges and misguided directions, initiated by wrong policies. The author very competently takes on those issues and points to better economic policies for the European Union. If one wants to understand what went wrong and what should be done better one should read this book.' Will Semmler, The New School for Social Research