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Economics writer and Financial Times columnist Martin Sandbu defends the Euro and argues that the Eurozone’s problems are not caused by the currency but by policy errors of the member states.

Sandbu says the Euro’s creation coincided with a credit bubble that the authorities chose not to rein in. When the financial crisis hit, the same governments failed to radically restructure debt. He argues that further fiscal and political union is not the way to make monetary union work and lays out a plan for economic and political recovery.

Sandbu is a former economics leader writer on the Financial Times and currently writes the newspaper’s Free Lunch premium economics newsletter. He is also author of Just Business: Arguments in Business Ethics.