But Greece didn't need bailing out in the first place, they could have defaulted and let the banks carry the can (after all loans are a risk), but German banks would have gone bust and Merkel et al couldn't stomach that so they transferred the banks debt onto the EU public.

German consistently runs a trade-surplus that's in excess of EU treaties but remains unwilling to raise demand at home, this creates a huge imbalance at the heart of the Euro.|

When the Euro came into being it was obvious to many people (and stated widely) that the interest rates were set to suit Germany and were far to low for many of the other countries.

Germany is at the heart of the problem of the Euro and they can't or won't see it