What German genius ever thought the EU was a good idea in the first place. It was apparent that after two generations of deficit spending to achieve a fax paux life style, countries such as Greece, Italy ,Spain and France had squandered capital and were carrying unsustainable debts. Now (just now?) the Germans are realizing that all the concocted financial gimmicks cannot correct the lunacy? Greece is a sideshow. Things will really get interesting when the party moves to Italy, Spain and France. They are even less likely than the Greeks to accept austerity. Goes without saying that the US is not far beyond. It would not be unreasonable for the Germans to shift their axis toward the boundless resources and potential of Russia. Western Europe is an economic and demographic nightmare.