Fixing the Eurozone

Hans Werner Sinn discusses the economic challenges within the European Union, focusing on Germany's current account surplus and the imbalances between Northern and Southern Europe. He highlights the impact of the Hartz reforms on Germany's economy and the difficulties faced by Southern European countries. The discussion also covers the political and economic implications of the eurozone's currency union, the potential for countries to exit, and the specific case of Greece's economic crisis. Legal and constitutional issues related to the European Central Bank's actions are also examined.

How does the current economic situation in southern Europe compare to that of Germany?

What are the political implications of maintaining a large external surplus in Germany?

What role does the European Central Bank play in the context of the eurozone crisis?

Explain the significance of the Maastricht Treaty in relation to the eurozone.