Germany Needs Greece In The Euro

Don’t believe the hype: Why Germany needs Greece to stay in euro

That’s because the status quo is a boon for Germany economically and politically. Indeed, the biggest European economy benefits more than most of its fellow euro members from the single currency.
For one thing, if forced to return to the deutsche mark, German exporters, which account for about half of gross domestic product, would become much less competitive and Merkel’s prized current-account surplus would shrink. Inflation would weaken further.
Boris Schlossberg of BK Asset Management in New York reckons a deutsche mark would now trade around $1.50, about 25 percent more expensive than the euro’s level of about $1.18.
A 2013 report by the Bertelsmann Foundation estimated that without the euro, German GDP would be about 0.5 percentage point per year smaller between through 2025 -- equivalent to a loss of 1.2 trillion euros, or 14,000 euros per -- and cost 200,000 jobs.

My view:

The Euro is a triumph for Germany, the world's second largest exporting nation after China.

Germany is likely to do just about anything to hold the currency union together to protect this status.

Even if it means changing terms of Greek debt or more bailouts.