The Strange Story of the Single Market Jayati Ghosh

For the past few months global attention, especially in the international financial media, has been focussed on the eurozone. The reasons are obvious. The group of countries that make up the European Union together constitute the largest economy in the world. Instability within it – which now seems inevitable, no matter how the current problems of countries like Greece, Ireland, Portugal and possibly Spain and Italy are dealt with – will have huge repercussions in the rest of the world. And of course the story of the economic union is itself a compelling one, unique in the history of the…