I'm not entirely sure about radically higher German inflation being necessary, even if it would be helpful (especially for Sweden...). Periphery nations can get out of the "big closed economy"-mindset and start competing with nations outside the Eurozone. However, the people who should be clamoring the most for higher German inflation is German workers, who haven't had any pay increases for a decade.

Peak oil is not an energy crisis. It is a liquid fuel crisis.