it can be argued that the ECB's monetary policy over the last 5 years was a lot more adapted to France's economy than to Germany's, which would then have required lower rates (like Italy - while Spain, ireland and a couple others could clearly have benefitted from higher rates).

We seem to be making a lot of conclusions from the last 18 months of economic history, which are quite different from the previous 5 to 10 years.

In the long run, we're all dead. John Maynard Keynes