germany, not greece, out of step with eurozone, page-2

It is precisely because the Germans have an entrenched psyche for 1922/23 as to the misery, real misery, that hyperinflation brings that they have the attitude they do. Get rid of the debt now. Suffer the pain now. Don't drag it out for more years than necessary. A short, sharp, deep depression, and then start to rebuild. It wasn't for ten years after the hyperinflation taht Germany finally started to pull itself out of the mire - do you want a ten year depression whilst all the debt is inflated away?

Germany is the only one marching in step.

Yes, it would be logical economically for them to pull out of the Euro, and let the profligate countries collapse and wallow in their own mire, but that is hardly a path to a vaguely stable Europe. The discrepancies would become huge, placing great strains upon the EU as a whole and promote nationalistic fervours all over the place. And we know what happened last time that occurred ....