Inflation?

Should the Eurozone consider the possibility of printing out more money, devaluing the currency, as a mean to pay part of its mounting debt and as a way to improve its competitiveness - especially of the small countries? This solution (that was a strong tool in the recent US plan to minimize recessionary effects) would harm Germany's living standard and create inflation. But... with about one third of the Eurozone in severe troubles (and the rest closing on the abyss) and the prospects of a slump in economic growth (prospects? Well, it is more like reality) it should be on the table.