It was Angela Merkel who “saved the euro” in the summer of 2012

and she did so because the Italian and Spanish bond markets were by then imploding. 

 At that point, she agreed to let the ECB act as lender-of-last resort 

 Ambrose Evans-Pritchard 30 October 2019
- Den stora risken var att Grekland skulle utlösa en kris i italienska, franska och tyska banker. 
Nu finns i praktiken en EU-garanti för de utestående grekiska statsobligationerna.

 Anders Borg, TT, SvD papper 22 februari 2012



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