Is Germany using a DM return as a real threat or bluff or not at all?

The Slog, has an interesting analysis of several likely options, in its latest posting, linked here.

The post implies that France will be threatened the most severely by a pull out by Germany from the Euro, with a credit rating going as low as CCc by the year end.

My most likely scenario in recent days has been that Germany will wish to retain its close association with France, that has underwritten the EU project for so long, but the system seems to be unravelling so rapidly, that maybe such larger strategic objectives will be disregarded in the coming scramble across Europe to gain a return to maximum economic stability amidst complete chaos as quickly as possible after the triggering moment.

Interesting that the Conservative Party conference in Manchester, has banned discussion of Europe, thus resulting in the Chancellor of the Exchequer likely to appear irrelevant during his speech this afternoon, where I know already of three fringe meetings being held concurrently to discuss the EU crisis. The Bruges Group with the Leader of the anti-bailout Finns, Timo Soini, Open Europe have their own and Douglas Carswell MP, will be speaking at another. What a complete farce!

Of course the EU crisis now being discussed in Luxembourg was considered insufficiently important for our own Finance Minister to seek to attend!