i've said it before: to me, germany's position doesn't look as rosy as some analysts make you believe. in the short term things might not fall apart completely, but remember: whatever happens to emu nations will eventually backfire. berlin is the last resort for all the liabilities europe has to cope with. just like the rest of the continent, we could easily end up bankrupt, crushed by an avalanche of debt.
anyways, given the lack of stamina most ecb members have shown so far, i guess hyperinflation will be the way to go in the end - which in turn will once again hit germany the most, as our savings rate is still out of this world. so no matter how you look at the mess, there's no way out, we're all in this together. and most europeans hate the kind of "schicksalsgemeinschaft" the elite deemed perfect back in the days. for different reasons though. just makes it that much more complicated.
That common fate you talk about was seen with enthusiasm and optimism by most Europeans, north and south, east and west, just ten years ago.
It is the elite that have the biggest chunk of the blame pie, that goes without saying.
If this gets really nasty, Germany will suffer too. And if everyone falls, then it will fall too. But the fall won't be as hard as for the others, and it will rise up again quicker.
And what accounts for that is certainly in part own merit, but there's more to it than that.