I may be slightly confused in regard tot he detail of macroeconomics at times (I studied it a decade ago, details got lost) - but the basic premise of the first quote seems to be wrong.

Net exports equal net capital export. A capital flight to Germany would equal a net capital import of Germany. So either he asserts that Germany would get a trade balance deficit with the DM (unlikely; it's more like a halved surplus - similar to the yr 2000 situation) or he's inconsistent.

My 50 Euro cents are on the latter.


Besides, a stronger economy also means considerable advantages - not only disadvantages. Imports (such as oil, gas and microelectronics) would become cheaper and Germans could make even more vacations in foreign countries.
We have IIRC even a law (since the 60's) that in theory demands a policy towards a balanced trade. It's been ignored (Germany nurtures the myth that a budget surplus is a great thing) and is being considered to be obsolete from an economic science point of view. No parliament is going to cancel a law that's named "stability law", though...



Surferbeetle; I strongly recommend a look at the optimal currency area theories in detail (there are about 7 iirc). They're the key to looking beyond the superficialities of politics in regard to the Euro crisis. The great experiment has settled the late 1990's debates about those theories and the conclusions are now quite inescapable unless you insist on looking the other way (as many politicians do).