Publication

In this chapter, published in "Notre Europe" by Michel Rocar and Nicole Gnesotto, Jean Pisani-Ferry refocuses the debate on the euro by looking at today‘s reality with yesterday‘s expectations and whether these were founded and to what extent they can still be met in the present context. Pisani-Ferry acknowledges that the euro did not dethrone the dollar as a global currency, as France had hoped for, but it is a viable alternative. The author also warns on the dividing implications the single currency might have on Europe if the club remains too restricted. But most importantly, he believes the euro is a learning experience for which Heads of States should be ready to fight for in the long run.