Nothing to cheer about there. The benefit for Germany is trivial compared with the implied uncertainty for investment decisions. Not to mention the implications for liquidity on Germany's European neighbors, that will come back to hurt Germany after some time.
Not really, unless Germany feels obliged to bail them out again. The problem is only as bad as the panic it creates. Germans typically overreact to situations so, in that sense, it could come back to hurt. But economically there's no reason they should be worried about this.