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the Bundesbank waiting in the wings to denounce Mario Draghi as an apostate

given the bank's parlous state

with every visitation by the troika, the dream of shared European prosperity was dealt another blow

the labour market measures--known as the Hartz reforms--that the German Federal Republic enacted as soon as euro notes began to circulate. Implemented at a time of US-led growth, these reforms aimed at enhancing German exports and their competitiveness by making them cheaper through reducing German workers' average take-home pay significantly, both by cutting hourly wage rates and pushing large numbers of workers into so-called mini-jobs.

Given that the purpose of going through the palaver of re-creating a lost currency is to devalue it vis-a-vis the currency in people's hip pockets, leaving the euro is tantamount to announcing a major devaluation a year before it happens.