You don't say?

I think most people have twigged that the Bundesbank is the power in Europe, nevertheless a useful article.

http://www.telegraph.co.uk/finance/financialcrisis/9321661/Bundesbank-the-eurozones-secret-dictator.html

As is this:

http://www.telegraph.co.uk/finance/comment/9322861/Europes-democracies-must-not-subcontract-their-destiny-to-the-Bundebank.html

'There are many layers of blame for what has happened, but the German policy elites and the European Central Bank are entirely responsible for the latest catastrophic turn of events. They pushed southern Europe over a cliff.'

and this:

http://www.telegraph.co.uk/finance/comment/james-quinn/9321758/Bank-bail-out-wont-end-Spains-property-nightmare.html

http://www.telegraph.co.uk/finance/financialcrisis/9323115/Debt-crisis-100bn-bailout-could-backfire-on-Spain.html

http://www.telegraph.co.uk/finance/financialcrisis/9322513/Debt-crisis-Rajoy-says-Spain-has-averted-a-full-bailout.html

http://www.spiegel.de/international/europe/market-reaction-to-european-union-bailout-of-spanish-banks-a-838087.html

See also

http://www.telegraph.co.uk/comment/telegraph-view/9321934/Britain-must-choose-its-way-in-the-EUs-darkest-hour.html

and:

http://www.telegraph.co.uk/comment/telegraph-view/9316662/The-comfortable-course-is-no-longer-an-option.html