Personally I hope Merkel and the Germans get over their hatred of printing money.. because we need to print money to counteract the devaluation of the pound and dollar, but also use that money to be able to fix the structural problems in the south of Europe.
There's only 1 way forward:
The other -countries have to downsize: Wages down, down with government spending and down with social benefit-payments. And you are back with a happy and healthy economy.
Cutting spending is not nice, but there is not another way to handle the situation. Germany has already gone through this process and still Germany itself doesn't .meet some parts of Maastricht criterias.
The Euro-Zone partners want Germany's money and German commitment to liability for other's debts. They want Germany to pay for Europe exceeding what it already pays through the cohesion policy to the underdeveloped regions surrounding it.
Just as it was planned in Versailles.