I suspect it will, reluctantly. Walter Russell Mead isn't so sure:
I’m agreed that Chancellor Merkel has no intention of being the chancellor who threw Europe away, but both at home and abroad she faces some challenging constraints. I think there is a non-trivial chance that events could move too far, too fast for her to step in. Some kind of banking crisis in France, for example, could create an immense and overwhelming mess. Anything that affects France’s credit rating could lead to a position in which no simple and effective solution could be put in place quickly enough to stop an unpredictable and uncontrollable set of financial consequences. Chancellor Merkel does not have a free hand at home; the German Constitutional Court and fractious coalition partners are watching her closely.
