Sue -- Ja, das ist richtig. The German people in general have been and still are savers; IMO they are the good guys in the EU debacle. Some retired Greek dude would disagree. Unfortunately, in a high inflation (turn on the printing presses) economic environment, savers get slaughtered. That is why the Germans are fighting the ECB turning on those printing presses -- inflation. The Germans should have gone back to the Deutschmark when they had the chance.

Unfortunately, the other option is default which will cause the Greek domino to fall over, followed quickly by France whose banks are too heavily invested in Greece and then it gets ugly. Italy and Spain are already on the edge -- lots of top heavy domino's in Europe.