The European Financial Stability Facility is not yet in place. The ECB doesn't have the authority to buy bonds directly from member governments such as Italy. It can only buy bonds in the secondary market. The IMF doesn't want to lend money. China is not interested.
What is Germany's solution? The Troika. They would put it in place everywhere all the day. Big brother would watch all the countries in the EU and monitor their financial activity. It almost sounds like World War II. Germany wants to make all the countries of Europe like Germany.