I am certain that most Germans have instinctive liking for Italy, just as Italians admire Germans for their many qualities.
If Spain goes under, Italy will come under even more scrutiny.
Italy even in the future will not need aid from the European Financial Stability Fund.
The Italian economy has been held back for decades.
If the euro becomes a factor promoting Europe's drifting apart, then the foundation of the European project is destroyed.
In the area of macroeconomic policies, I think we'll see more centralization, like in the budgetary sphere.