The Euro time bomb is ticking. After Greece, Cyprus, Spain, and Ireland, France and Italy are now also in serious trouble. Capital investors were able to make a quick exit because the German state and the Bundesbank stepped in their place. Hundreds of billions of euros were thus made available: money that was urgently needed for the maintenance of German infrastructure and the improvement of schools. Are Eurobonds coming now? And will they directly reach into the pockets of the struggling states of Southern and Western Europe? In his usual clear manner, Hans-Werner Sinn outlines the developments in the Euro crisis, from the behind-the-scenes drama to the repeatedly proclaimed inevitability of checkbook politics, which was in truth just fear of necessary decisions. It is already clear: we and our children will be the ones to pay the bill.