A. Merkel objected to the ECB bailout until recently. I think she bowed to superior political focus, not her own good sense. If the ECB follows French Pres. F. Hollande's lead to bail out the weaker economies, and it appears it will, I believe the move may be the camel that breaks the German's financial back. The German economy seems to be holding up the Eurozone in the short haul. I don't think the Germans can keep that up for the long haul. It has been my opinion for some months that Germany, if pressed to hard, will quit the Eurozone in self defense. The eurozone might be able to survive a Greek vacuum, but not a German vacuum. I wish the Eurozo luck, but I don't see any luck in their future. It would be nice to be wrong!
Marvin E. Fox