There is only one bullet that will work. The European Central Bank must provide liquidity to Euro nations so that they can borrow as much money as they need.
Angela Merkel doesn't have the power to agree to this, so when this bailout fails, either she rejects the proposal, or her government falls and it becomes the central issue for the next German government, which knows that it will have to put it to a vote of the people - and I will give you 20 to 1 that the German people will not vote for it. The German constitutional court has made it crystal clear that the German Parliament does not have the authority to agree to the ECB being given these powers.
December will be Interesting! G20 meeting in November is timed about right to be in the middle of the process as Merkel and Sarkozy discover that this deal is falling apart around their ears