I agree, although admittedly this may be confirmation bias on my part. By way of disclosure, I have been saying for some time that the problem is Germany and have predicted that Germany will be forced to exit the euro first for political reasons, namely, voters are unlikely to approve the required transfers that only Germany can make in the absence of a fiscal union in addition to the existing monetary one.
The problem is the strength of the core, particularly Germany, rather than the weakness of the periphery. Germany's export economy has colonized the periphery and left them without the means to meet their financial obligations to the core's financial sector, which, according to neoliberal thinking, must be protected above all else as the source and allocator of capital. This ends by forcing austerity on the periphery, resulting in social unrest in the absence of a bailout, which Germans consider inflationary if monetary and unfair to them if fiscal. This obviously is not working, and no permanent fix is in sight. Bandaids are not doing it, either.
The EMU suffers from poor design, along with a fact that should have been obvious from the outset — Europe is not an optimal currency zone. Regardless of this, the Europeanizers pushed ahead with a plan that did not contain contingency planning for imbalances resulting in distortions and ultimately crisis.
See Bill Mitchell, Doomed from the start
If Germany exited, then the Deutschmark would be properly valued in the market immediately and the euro would fall. Now, the euro is undervalued wrt Germany, favoring Germany's export economy, while being overvalued wrt to the periphery, disadvantaging much of the rest of Europe, especially chronic net importers. It is already being said openly that what Germany attempted and failed at in WWII, it is accomplishing financially and economically through Eurozone asymmetry.
If the EZ is to work as a currency zone, then either a fiscal union must be established allowing transfers, or else the design must be revisited taking into consideration an optimal currency area. Presently, the economic disparity is creating too great an asymmetry.
UPDATE: Bill Black, It Became Necessary to Destroy the Periphery in Order to Save the Core’s Banks