Interesting perspective below on European debt crisis. I hadn't thought of that.
""Ironically, the big beneficiary of the financial problems in the weaker European countries has been Germany. The credit crisis has kept the euro cheap. I know it doesn't look that way to you Americans because your currency has deteriorated significantly, but to many others around the world German goods are very attractively priced, making their exports strong. That's why it is in Germany's interest to keep the European Union intact. If Greece and Portugal were thrown out because of their poor financial management, the euro would appreciate and the German economy would suffer. The current solution that allows Greece to roll over its maturing debt into new longer-dated, lower-interest obligations avoids default and is very elegant. It doesn't solve any of the long-term problems, but it does get Europe through the current crisis."