The High oil price shocks of recent years were designed by the double-crossing Bush Administration to break the Eurozone apart. That's how we got the US financial crises which led to the British financial crises and the fall in the value of the Pound against the Euro to within parity levels.

The Eurozone Reserve Banks are fully loaded with reserves to withsatnd any financial onslaught the Bush Administration threw at it.

Will the Obama Precidency change the kamakazi economic policies of the Bush Administrtion?

Only time will tell.

The Bush Administration threw both the American and British economies over the cliff via the irresponsible kamakazi policies from 2001, which were designed to eventually create financial stress , (which did take place in mid 2007- Us financial crises) on Eurozone lenders , leading to the Bush dreamed collapse and breakup of the Eurozone ( which has not taken place).

The fact that the recent global shocks have affected Germany and the rest of euro bond markets in various levels, creating particular discrepancies in asset prices reveal only that the euro bond markets are not fully integrated.

The fact that global factors can cause volatility of yield differentials among euro government bonds JUST SHOWS that more work has to be done in order to achieve full financial integration.

One cannot assume from this that the Eurozone is about to disintegrate.

Actually, what recent developments have shown is that Denmark, Sweden and Britain should seriously consider to join in.