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According to this view, emerging economies can take control of their own monetary fate by the simple trick of letting their currencies float.
In so doing, it has placed its monetary fate in the hands of the Federal Reserve, which has floored rates and promised not to raise them any time soon.
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Ninety women may be pleases, but there are still plenty of others whose monetary fates are pending.
Japan hopes that the TPP will shake up its inefficient sectors, complementing fiscal and monetary stimulus.But the fate of globalisation depends most on America.
For many of the East Germans, the dominant concern over monetary union was the fate of East German pensions, salaries, social services and bank savings.
Ms. Merkel, though, has also argued that such aid needs to be accompanied by greater fiscal and political integration within the euro area, to hold member nations more jointly accountable for the fate of the monetary union.
The fate of the European monetary union could well hang in the balance.
"Russia's monetary guardian is no longer a master of its own fate," he added.
But the controversy has made his new book, "The Great Deformation," a best-seller — a surprising fate for a seven-hundred-page work of monetary history.
Early next week, whoever is Chancellor will attend a meeting of EU finance ministers as a bystander - though not a wholly dispassionate and disinterested one - as they decide the fate of Greece and (perhaps) of their bold monetary experiment.
Many Greeks said they did not see the point of voting if the country's fate was in the hands of the European Union and the monetary fund.
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