Angered by the way politicians have handled the European debt crisis, the German journalist Harald Schumann became a speculator. He bought 18,790 euros worth of Greek government bonds in July and sold them only a month later at a net profit of 784 euros.
“The efforts to postpone Greece’s bankruptcy have served the financial sector’s interests,” he writes. “Independently of their political convictions, all the experts who are not tied to the financial sector called as early as spring 2010 for a quick waiving of debts…. But the powerful financial sector opposed this. Its idealistic all-purpose lobbyist Josef Ackermann…warned that it was ‘inconceivable to allow the country to fall,’ on the grounds that the main thing was to ‘put out the small fires before they turned into big ones.’ The reason for his stance was simply that the customers of Deutsche Bank, in previous years one of the partners of the Greek finance ministry in selling bonds, shouldn’t have to suffer losses…. In a deliberate maneuver aimed at deceiving the public, this is still being referred to as the ‘rescue’ of the Greeks (and Irish and Portuguese) even though in reality the only ones who are being kept from suffering any damage are those who made bad investments.”
Source: Der Tagesspiegel, October 5.
Eric Koch’s book, The Weimar Triangle, is available at Indigo-Chapters and in your local bookstore. 
