Someone in German finance, very possible Deutsche Bank head Josef Ackermann, may have explained to Merkel that the Greek debt situation was much more complicated than just asking "who owns those Greek bonds." This person would have explained that the owners of the bonds, in many cases, would not take the first losses from a default. The sellers of protection on the bonds would.
Think Henry Paulson coming to George Bush explaining that allowing "the market" to sort out the mess following the collapse of Lehman Brothers would mean risking another Great Depression. Bush still says that he's a "market guy" who doesn't like the idea of bailing out failed companies. But when it come down to it, he trusted his advisers. As he saw it, they knew far more about this stuff than he did.
So did someone get to Merkel? Most likely. And at some point, we'll learn the details of who, what, when and where.
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