Abstract

Several newspapers have recently reported the statements of Joseph Stiglitz on the inadequacy of the euro as a key element of the monetary union and how its inadequacy is evident in the different development conditions that would favor some countries over others. On the subject and the specific question, he is absolutely right, yet the problem is not the euro as a currency but the rational sociocultural and monetarist model behind the monetary union that should first be based on social and political sharing. The economy and currency as the sole unit of measure are detached from society and from man as a person to become something abstract and ungovernable. The real problem is the failure of the cultural model elevated as sacred truth that led to finance devoid of scientific foundations and to assume a role of governance, measuring complex realities that are not completely measurable, as in the case of human societies. We are using an infinite currency to value a finite word , is it logical and possible ? Absolutely No !