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The collapse of the Euro has been predicted by Ambrose Evans-Pritchard for some time, and now, speculation (pardon pun) is gathering pace as people begin to grasp that the massive Greek bailout is but a mere sticking plaster. It merely buys time.
Most pundits (Bob Chapman amongst them) believe that the Euro is toast and that Greece will never be able to repay its debts, even if its loans are restructured.
Germany would be hit harder than any other nation, should Greece default - or any of the PIGS, and for this reason, there is speculation that it has begun printing German Marks.