Although this move may seem directed at a global systemic event, it is rather a responsible move - logical and consistent when analysed from a historic and policy-making perspective. After the turn of events in Europe and the unravelling debate in Germany this is a move but also a gesture. You may to recall the many promises that EU governments gave Germany and the assurances that the German government gave to its people for them to give up the German Mark for the sake of a European Union Currency, all of that sealed in Maastricht. Later the de-factor failure of the Maastricht treaty (commitment to responsible finances etc), more recently the de-facto assumption by Germany of weak EU members' sovereign debt and the fact that France - for years uncompetitive - is now going on an even more socialist path (confiscations often threatened). Thus it is a message to France. It is also a political maneuver ahead of general elections in Germany. Few nations have experienced the horrible experience of hyperinflation as Germans have, which led to the fall of the "Weimarer Republik" and the rise of Hitler to power. The promises given to the German people in order for them to give up their cherished D-Mark have been utterly disappointed by political EU realities; many Germans feel betrayed and maneuvered into a situation where they have to pay up to keep the Euro together. This is a well-timed political rather than monetary move (actually a gesture) to appease the deeply worried center-right-liberal voters on whose support Angela Merkel is hoping to win reelection. It also sends a political message to France, a partner that no longer capable of carrying the weight of Europe together with Germany. Christian Takushi, economist.