Book notes: Crisis cycle: challenges, evolution and future of the euro, by John H Cochrane, Luis Garicano and Klaus Masuch
This book ought to be read by anyone with an interest in or influence on the future development of the Emu
John H. Cochrane, Luis Garicano and Klaus Masuch, Crisis cycle: challenges, evolution and future of the euro, Princeton University Press, 2025, 309 pages
In September 2025, at the time of writing this review*, investors are looking warily on the state of public finances in France. The spread between French government bonds (Oats) and their German counterparts (Bunds) is hovering around 80 basis points, with an upward trend. The French yield spread is now only slightly lower than the Italian one
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