This dilemma is felt especially keenly in Germany. It was a wrench to surrender the Deutschmark, symbol of post-war recovery and economic success. On the eve of monetary union 55% of Germans were against it, making their nation the euro zone’s most reluctant founders. When a “rescue” is mentioned, all eyes fix on Germany, Europe’s biggest economy and most creditworthy borrower. Germans fear that a rescue of Greece would, in effect, extend their welfare state to the Mediterranean.
Let the Greeks ruin themselves (The Economist)