Yes and the 1 trillion Euro question is: in the medium and in the long run, is the nuclear option better or worse for exactly the people you want to protect - compared to following the road of austerity and "reform" (which will lead to a default managed by the debtors at some point anyway)? Does just sitting and hoping for an electoral change of guard in Germany and France in the next couple of years even make sense?
Or is cutting general income levels in half but preserving their public nature, taxing property and assets and prosecuting tax dodgers among other things, a better option on a 5 or 10 year horizon?

The road of excess leads to the palace of wisdom - William Blake