Since WWII, the strategic goal of France has been to create a continental-European system, to counter what it perceives as Anglo-American global economic dominance. To do this, France created various iterations of the EU, starting with the ECSC, which included Germany and Italy but not Britain. The EU, and the Eurozone, are only the latest versions of this strategy.

Now we can discuss the EU, the Euro, and it's future in a realistic way. The Euro, of course, was created through the sacrifice of the D-Mark. It was a blood offering demanded by the French in return for acquiescence to German reunification. The German people never wanted the Euro, but they accepted it as a necessary price for the final healing of ugly historical scars. The German elites wanted their European trade zone, and the French elites wanted their counterweight to Anglo-Saxon capitalist imperialism, without the unwelcome interference of Britain. This is the strategic impetus for the Eurozone.

Today, among all the hubbub about the Eurozone crisis, France and Germany remain reticent. The reasons should now be obvious. The German people only joined the Euro out of war guilt, and they are, at best, indifferent to the fate of the Euro, and they certainly don't want to pay for it. The German elites view this as a golden opportunity to dictate their terms to this now German-dominated trade union. They are in no great hurry to save the Euro, not when crisis means they can virtually appoint the leadership of other countries, and set their internal budgets. The Eurozone has been an enormous strategic success for German elites.

The French are in a state of shock, watching the monster they have created. The German horse they were intent on riding into battle against the Anglos has grown a mind of its own. But they must stick with Germany, as the European project would be nothing without Germany. Keeping the Franco-German alliance strong is more important that countries like Greece, Portugal, or Spain.

Ultimately all politics is an exercise of power, and no European nation has any leverage over Germany. So: the German elites are triumphant and exploitative, the German people are indifferent and unwilling to pay, the French will sacrifice Greece to keep the Franco-German alliance alive. The rest of Europe will mutter vaguely about Nazis.

What will happen? It depends on the Germans. If populist sentiment wins, the Germans will not give any significant amounts of money to Europe. The Eurozone may or may not collapse, depending on which countries are cut loose, and what arrangements are made. If the German elites maintain power, the Germans will extract maximum concessions from Europe, including far-reaching budgetary control, in exchange for capital injections. The Euro will be kept on life-support. Either way, austerity will rule the day."