I do agree that this sanctimonious moralizing of the virtues of the German over the Greek is risible. However, with common assumptions in place, what Germans did makes sense. Businesses had high productivity, lots of capital investment, and nowhere to send the excess of the commodities it could produce, the domestic market was satiated. So they lent money to the Greeks etc. and had a place to send these excess commodities for a few years. They kicked the can down the road so that they could figure out what to do with this overproduction and - today is the result.
I see a worldwide self-reinforcing cycle for slow growth, unemployment, recession and depression. Companies have it over employees so money goes to profit more than wages. This happens eveywhere so money goes to capital, not consumption. But the more impoverished workers have no money to buy commodities. So a temporary solution is found - debt. Things go along again and then one day the game of musical chairs ends and you have a situation like now.
Greek youth is not going to put up with a 65% unemployment rate forever, and the election of Syriza points to that. So does the rising number of votes going to Golden Dawn and the KKE. I see news commentators calling Syriza "far left" - they are not far left, they are just socialists. People are so used to soi disant socialist and labour parties performing neoliberal cuts when elected to government, the idea that a socialist politician wants a floor to living standards is a shock to them.