They have control of their fiscal policy, the ECB runs monetary policy, like the Fed in the US. Fiscal policy - i.e. taxes and spending decisions - would be a very good place for the Germans to start reforming. They have to cut benefits for the middle class much much more. 40% of the German voters receive money from the state! This is the problem. Interest rates are incredibly low in Germany. High interest rates cannot be blamed for Germany's economic problems, or Italy's or France's.
I agree that Germany's problems are deep-seated but was trying to make the point that without the lever of an indegenous monetary policy the new German government is going to find it even more difficult to implement the structural reforms needed to re-vitalise the economy.