EU's real dilema with the Greece crisis

Comments on Robert Gottliebsen “Europe at a crossroads”, 4/02/2010, http://www.businessspectator.com.au/bs.nsf/Article/Europe-at-a-cross-roads-pd20100204-2BU5S?OpenDocument&src=sph

Robert, after reading you say the following:
"If Europe is not prepared to save its weak states then the future of the euro and the European Union is grim, because the problem states may be cast off. This is a defining moment for Europe."

I would have thought it is not a question of if, rather, it is a question of impossibility.

The main reason for this is that now most major EU countries if not every one of them are not in a position to help others given the consequence or in the wake of the GFC.

In principle some may want to, but in reality none is able to, especially politically considering any the potential economic consequence of any rescue for any countries which would have to contribute.

That is the dilemma they are having now.

So it is not high principle, high moral grounds, it is practicality and circumstances.

What conclusion would you draw had you been a politician in a major EU country?