In a speech in Frankfurt, the Billionaire speculator George Soros, has urged Germany to quit the Euro. Given Germany's resistance to the introduction of Eurobonds Soros argues that Germany should leave.
George Soros urges Angela Merkel to consider quitting euro | Business | guardian.co.uk"If Germany left, the euro would depreciate," he said. "The debtor countries would regain their competitiveness. Their debt would diminish in real terms and, if they issued eurobonds, the threat of default would disappear. Their debt would suddenly become sustainable … and Europe would escape the looming depression."
Soros makes a valid argument and this same argument has been brought forward before. The question remains what will Germany do? I believe they will probably continue to kick the can.