The media has not picked up on the significance of the crisis from the articles that are widely circulated.
We are seeing an unprecedented move by Germany (ie: the Fourth Reich) to force a small country into direct stealing from its residents to fund a German/EU backed bailout to protect the Euro.
Let's not kid ourselves, the Euro exists primarily because it is backed by Germany and gives the German export machine access to the majority of the European market. Remember, faithful reader, that Germany is the second largest exporting country in the world after China. The German trade surplus supports its economy to a far greater extent than is commonly recognized. If the Germans had their own currency (let's call it the Deutsche Mark) it would probably trade at a considerably higher premium than this Franken-currency construct, the Euro.
So, according to game theory, it is in Germany's self interest to keep the Euro afloat, while punishing the profligate spenders of the Southern Europe who traditionally had weak currencies due to their historically reckless spending habits (Think Greece, Italy and Spain).
The $64,000 question is this - how long can the charade last before one of the debtor countries decides to look after its own interest and opts out of the currency despite the pressure from Brussels and Germany?