@georgeob1,
It surprised me too, George, but Angela is one tough cookie. She reminds me of old Margaret Thatcher at times. Unfortunately, the Germans don't like her style of governing and after the big scandal and resignation of Guttenberg (who falsified his Phd) who was seen as her protegee and successor, Merkel and her party fell into further disapproval.
It looks like that the Social party will win the next election, Peer Steinbrueck is a good candidate, but with the current turmoil and shifting in parties and its leaders, it's hard to tell.
As for Sarkozy, he's an egocentric, ineffective politician and the the recent
victory over Libya won't sway the French either - they could care less. Sarkozy had his chance and he blew it. I think Martine Aubry will be a better win. Right now she's neck on neck with Francois Hollande, so it's hard to tell as well.
I agree with you, George, Greece is unable to issue more bonds and it seems that the EU is throwing good money after bad, yet there is just no alternative. The EU cannot simply leave them stranded and fend for themselves after such a fiscal fiasco. It's not the right thing to do. Morally and financially, the EU needs to extend their support. There is no way
they'll ever exclude Greece from the EU - unless the Greek initiate it and they're not that stupid.