Largely true. If I were a German worker, I'd be really pissed at Angela Merkel for using my hard earned tax dollars to bail out a bunch of lazy Greek workers who retire on average 10 years earlier than a German worker does.
I'd be surprised if Merkel survives the next election. The Germans are really pissed at her. (Family in Germany ... know of what I'm speaking here.)
There is an all to common personality type that resents success. The Germans are successful because they work hard. The Greeks on the other hand spend a great deal of time trying to avoid taxes. When this bailout runs out they will be back with their hat in their hand looking for more. At some point the Germans will have to say no. Bernanke is an economist. H.S. Katz: “Modern economics claims to be a science. This is a sham and a fraud. When it fails to predict future events it does not act like the scientist, disregarding false theories in search of the truth; it acts like the Indian Medicine Man who has failed to make rain. It equivocates, rationalizes and tries to make minor adjustments.”