I think you're probably right and let's hope that's the case. But if the wheels come off, the German electorate starts to suffer and perceive they've been sold a huge pup who will they vote for and what will they demand?

---------- Post added at 14:05 ---------- Previous post was at 13:52 ----------
Anyway Merkle seems to be very firm in rejecting the idea of a 'Eurobond' safety net guaranteed by all EU members. Will the Germans get their way? Whatever happened to the idea of a group of member nations all of which have a say in what happens?
http://www.guardian.co.uk/business/b...ecession-fears[
To add to the woes, the latest German government bond sale failed with 30% of the 10 year bonds being unsold.