Martin Hellwig is the director of the Max Planck Institute for Research on Collective Goods, and he joins Macro Musings to talk about the Eurozone and the implications of the recent German Constitutional Court (GCC) ruling for the future of the monetary union. David and Martin specifically discuss the background of the perceived Eurozone crisis, the power struggle between the GCC and the European Court of Justice, and how this case may lead to a total breakdown of the Eurozone.   Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings   Martin’s MPI profile: https://www.coll.mpg.de/martin-hellwig   Related Links:   Bonus segment with Martin: https://youtu.be/1POrO_8VcM0   *The Leverage Ratchet Effect* by Anat Admati, Peter DeMarzo, Martin Hellwig and Paul Pfleiderer https://www.gsb.stanford.edu/faculty-research/working-papers/leverage-ratchet-effect   *German Court Has Set a Bomb Under the EU Legal Order* by Martin Sandbu https://www.ft.com/content/79484c01-b66b-4f81-bdc6-fd4def940821   David’s blog: macromarketmusings.blogspot.com David’s Twitter: @DavidBeckworth