Yes it does prop up basket cases with the intention of helping them recover. Thank fuck they do. The European/ EU values are different to those of, say, a hedge Fund. It is not a case of buy a country to make a quick buck.
I realise that you're a Merkel supporter and a fan of all things EU but even by your anti-UK standards that is a ridiculous statement.
Greece, Italy, Spain and Portugal have been turned into basket cases as a direct result of being shackled to the Euro. A currency that was pegged at a level on par with the Deutschmark to protect German industry whilst showing no regard to the effects it would have on economies built on currencies (drachma/lira/peseta/escudo) that had historically traded at significantly lower levels.
Putting aside the shameful treatment of Greece in their economic hour of need, the EU and in particular the 'one size fits all' currency has created mass youth unemployment, poverty and misery in these Southern European countries. Yet their plight continues to be viewed with arrogant indifference by the EU elite.
Yesterdays vote has at last called time on the filthy, corrupt institution and in the coming months and years the people of Europe will rise to reclaim their nations.
Isn't democracy a wonderful thing.