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Episode summary: How does a judgement of the German constitutional court threaten to explode the European project? David talk to Helen Thompson, Adam Tooze and Shahin Vallee about what the court’s decision might mean for the Euro, for the response to the pandemic, for Franco-German relations and for the future of central banks. Can the great European fudge continue? And what happens if it can’t? Plus a bonus chat with Ed Miliband and Geoff Lloyd from the ‘Reasons to be Cheerful Podcast’ https://www.cheerfulpodcast.com/ The German Constitutional Court ruled that the ECB’s QE program is illegal. - It says that the German government has failed to control the ECB’s program and its compliance with the German constitution. - It ruled that the European Court of Justice made an illegal judgment. - And it gives the ECB 3 months to provide a clear analysis and a new decision. If not, the German government can’t continue to participate in QE. This raises three fundamental political questions: - Does EU law take precedence over national…

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