First, enter a monetary union with weaker economies with dubious credit, at a really advantageous rate for these economies but effectively substantially depressing the new Deutsche Mark.

Second, lend like crazy to these countries whilst markets believe Greek paper to have the same default risk as German.

Third, as the neighbouring countries are using the newly available borrowing and their strong new euros to go on a spending binge, provide the products.

With both guaranteed demand in Europe guaranteeing large volume, and an effective 40% discount on German exports vs where they should be with the Deutsche Mark, you can take market share from the Korean and Japanese let alone Americans and even avoid having your manufacturing sector destroyed by Chinese competition. In Europe it's even worse, VW thrives as Rover goes under.

The best part is that when Southern European credit finally catches up with where it should be trading, you get to brag about your wunderbar Mittelstand values and insult those pesky lazy Southerners, whilst reinforcing the very actions that guarantee you the continuation of de facto devaluation policies without being responsible for them (and therefore getting booted out of office by an angry German electorate annoyed at being underpaid on a global basis). Invisible tax FTW. Even those Germans who might have pieced it together will hesitate before putting any real pressure towards, say, a Grexit, because their pension fund is invested to the neck in Greek paper. Meinen Kinder will sort it out, but I arbeit so hard all my life, surely I deserve to enjoy my pension...

So, not a miracle, it is by design, a rather magnificent one too. One that, long term, seems to beat sending the Fallschirmjaeger on Kreta.