Yesterday somebody posted the following chart over at The Business Insider:

The accompanying comment was as follows:

"As a schizophrenic world quickly lost its dollar-hating-euro-love, look how quickly Credit Default Swap (CDS) spreads for European nations exploded upwards. All it took was roughly a month, as exemplified by the spike for Greece. This Greek financial crisis was all it took to end talk of the euro as a replacement for the U.S. dollar".

Now here is what you see when you look at the US CDS spread and the GDP weighted CDS spreads of the eurozone countries* since the Lehman collapse:

So nothing crazy has happend recently. Especially relative to the US. The difference and the quotient of those spreads over the last year looks like a nice realization of a mean-reverting process:
OMG, I can't wait to sell this finding to a stat arb hedge fund!

* without Luxembourg and Malta (no BBerg quote)