too big to save in Europe

The Greece problem is spreading to other PIIGS countries like wide fire. The question is not whether German will approve the aid package, (yes, they will). The problem is what happens after Greece. Can Germany save Spain and Italy? I don't think so. Is it too big to save? My guess at the end of day, European central bank will start to buy sovereign bonds (printing money) just as the Fed did. When that happens, gold is going to shine.