Hopes dashed.

See:

http://www.telegraph.co.uk/finance/financialcrisis/9350346/Debt-crisis-Angela-Merkel-defies-Latin-Europe-and-the-IMF-on-bond-rescue.html

Mrs Merkel has domestic issues to contend with:  opposition within the German parliament and constitutional issues to be considered in the courts.

http://www.spiegel.de/international/europe/germany-france-italy-and-spain-agree-to-growth-pact-a-840495.html
Only about 10bn is 'new' money and it will take years to see the benefit.  Now, didn't I read somewhere that the EC wants to see a 7%. in the budget.

http://www.telegraph.co.uk/finance/comment/liamhalligan/9351267/Eurozone-nations-are-stuck-in-a-doom-loop.html