“It afflicts us to learn about the exploitation of our analyzes on the functioning of the euro which, we learn, is taking shape with political proclamations in France and other European countries. We are strongly in favor of a more united Europe, ultimately through greater political integration. The currency union should continue with a fiscal and banking union, both of which we hope will be achieved in due course. While we believe that establishing a currency union without banking and fiscal, and therefore political, integration is a mistake from an economic point of view, we remain strongly pro-Europeans who want much more than a mere currency union.”
These are the unequivocal words that clarify once and for all the position of the two Nobel prize winners Joseph Stiglitz and Amartya Sen, often included by the populist and anti-euro forces within that circle of six Nobel prize winners, including Paul Krugman, who criticize the structure of the euro by providing arguments to those who would like to return to the old currencies.
The success of the populist right-wing French administrations and the foreseeable gallop of nationalist and anti-European parties in the next elections must have frightened the two signatories of the note, prompted by a question from former premier Mario Monti, who asked them to clarify their position. In Italy there are not a few who exploit the criticisms of the Nobel prizes to add grist to the mill of monetary sovereignty. Starting with the Borghi – Bagnai – Rinaldi anti-euro trio. The first of which is a candidate with the Carroccio for the next European Championships.
Stiglitz and Sen's message has an obvious political significance: one thing is the criticism of the "genesis" of the euro, through which the intention was to "force" the way to a real political union. It is quite another to profess its death, which however is a viaticum for success for many who want to acquire visibility in the media and personal success.
Unfortunately, in the past, the Nobel laureates have had little sensitivity in putting a footnote to their lucid economic analyses: the euro crisis is above all a crisis of political credibility, even before financial confidence. However, today's message is fundamental because it unmasks the aridity of so many purely technical debates that do not take into account the weight of politics and international relations in the strategies adopted since 2010 to stabilize the European economy. It would be appreciable if the four remaining Nobels often cited by Eurosceptic forces also expressed themselves unequivocally.
