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The article considers politics and government in Germany. The political damage done to Prime Minister Angela Merkel and her Christian Democratic Union (CDU) party by the financial crisis in the euro area monetary union is discussed. There is opposition among voters and particularly within the CDU to Germany's large financial commitment to the bailout of Greece and other euro area countries facing the possibility of default on public debts.

The article discusses the European sovereign-debt crisis. Particular focus is given to the European Financial Stability Facility (EFSF), a financial resource backed and organized by euro-area states which has provided emergency lending support to Ireland and Portugal. Details related to other possible uses of EFSF resources are presented. Topics discussed include private holders of Greece's public debt, the European Central Bank (ECB), and the Greek debt crisis.

The author offers opinions on the euro area financial crisis created by the possible default of Greece on its public debts. The proposed rescue plan announced by European Union governments is criticized as too vague to offer meaningful assistance. The International Monetary Fund (IMF) is suggested as the organization which should administer any assistance program for Greece.

The article discusses the sovereign debt crisis in Greece, with a particular focus on negotiations between the Greek government and its creditors. It references the short stories "The Trial" and "Metamorphosis" by writer Franz Kafka to explain the viewpoints of Greek and Eurozone negotiators. Topics discussed include Greek Prime Minister Alexis Tsipras, the European Central Bank (ECB), and the International Monetary Fund (IMF).

The author's opinion regarding the July 21, 2011, emergency meeting of euro-zone leaders on the topic of European economic crisis is presented. According to the author, the summit did not do enough to lighten the debt burden of Greece. The author also states that despite the efforts of European political leaders to improve the euro, European integration lacks a democratic mandate.

The article discusses financial crises related to the euro. According to the author, the difficulties of the situation have as much to do with politics as economics. Particular focus is given to an October 2010 summit of European leaders including European Central Bank (ECB) President Jean-Claude Trichet, German Chancellor Angela Merkel, and French President Nicolas Sarkozy. Topics discussed include public debt, the euro area, and the role of private creditors in resolving financial crises.

The author offers opinions on international finance and public finance. Public officers are criticized for stating that securities trading in sovereign credit-default swaps (CDSS), a derivative security based on the risk of default on national public debts, is responsible for the financial crisis in the euro area due to the possibility of default by Greece. It is noted that some of those same public officers have welcomed the corresponding drop in the value of the euro.