Lets say, you have an 850 credit score and diligently saved and paid your bills on time. Your neighbor has a 320 credit score, over spent, and never saved a dime, asks if you could cosign for the refinance of his underwater home.
You say sure, but I must look over all of your spending, and approve any outgoing funds.
He says, are you nuts?
That is where Germany and France are with Greece, Spain and Italy.
What would you do?