• Prohibition of monetary financing in the euro area “is one of the most important achievements in central banking” and “specifically for Germany, it is also a key lesson from the experience of hyperinflation after World War I”

This is one of my main points with regards to having the ECB print money to solve the problem.  Germany’s experience with hyperinflation is too recent for them to be all hunky-dory with proceeding to print one’s way out of the problem.  

Problem is that the ECB will need to print to avoid an Italian hard default.  

That’s why I’m pondering the possibility that Germany (probably along with Finland, Austria, Netherlands) would leave the Euro and have their own currency.  Maybe the “Euro Mark”.