What you are endorsing is just a continuation of what got us into this mess in the first place. I know it has been said quite often in certain circles for politial points but it does not make it any less true:

You cannot solve a debt problem with the issuance of more debt.

Monetary inflation, while temporarily masking problems, always ends in ruin. The Germans remember the Weimar hyperinflation and that is why they rightly refuse to go along with the rest of the EMU that wants to 'print their way out'. The Germans understand it is hardly a way out, nevermind the insidious robbery of the people that actually save some of the income (deferred consumption).

"But then finally the masses wake up. They become suddenly aware of the fact that inflation is a deliberate policy and will go on endlessly. A breakdown occurs. The crack-up boom appears. Everybody is anxious to swap his money against "real" goods, no matter whether he needs them or not, no matter how much money he has to pay for them. Within a very short time, within a few weeks or even days, the things which were used as money are no longer used as media of exchange. They become scrap paper. Nobody wants to give away anything against them." Ludwig von Mises

I have no doubt that the Germans will relent and Bernanke is absolutely committed to printing insane amounts of money. The market may even rally for awhile but the end will be ugly and the dollar will be the reserve currency no more.