The Euro was locked into its current crisis twenty years ago by the Maastricht negotiators, who ceded authority to the financial markets

The roots of current controversy around the current Euro crisis can be traced to the 1992 Maastricht negotiations that led to the common currency’s creation. Kevin Featherstone argues that the rejection of neo-Keynesian ideas was fundamental then, and finds echoes today in policy attitudes that make a return to growth even more unlikely.