A reading of the German press suggests Chancellor Angela Merkel is at peace with the idea of Greece quitting the euro. Der Spiegel says her government views that as a manageable outcome; Bild reports that officials are preparing for the prospect. Lawmaker Michael Fuchs says Greece is no longer a threat to financial stability.

All that is mostly posturing for an electorate tired of the aid and angst Greece has demanded since 2010. In fact, Germany has no interest in risking the dissolution of the single currency that a Greek exit could entail.

That's because the status quo is a boon for Germany economically and politically. Indeed, the biggest European economy benefits more than most of its fellow euro members from the single currency. While a Greek departure alone may not end the euro, the risk would be of contagion through the bloc's financial markets that forced others out.