If only the refusal was justified. The fact that "no one of the top German economists is proposing deposit insurance" may just mean that they all think alike and that none of them are willing or able to look at the real needs beyond German borders, or that they wouldn't recognize a black swan if they saw it.
Voilà a good example of the value of diversity!
Sources: IMF calls for pan-European Deposit Insurance Nov-11, http://www.reuters.com/article/2011/10/15/us-imf-eu-regulation-idUSTRE79E24W20111015
Skating on thin ice ; Frau Merkel says nein to deposit insurance