I know nothing of Junker, but I take that comment to mean that (some) elites have a view of "the right thing" which is out of step with what is in the interests of the majority of the voting population. The noble politician who is prevented by voters from doing "the right thing" is a nice conceit, but I think it's usually bullshit. Democracy is the increasingly thin check on the oligarchy stealing it all, and there are plenty of politicians who have views of what "the right thing" is which are repugnant and unpopular...for good reason.
As for the specifics, it seems to me that what German and French politicians are doing is trying to thread the needle of bailing out German and French banks while convincing their voters that they're bailing out irresponsible Southern Europeans and maintaining just enough popular support for the actions.
