<blockquote>'It was about protecting German banks, but especially the French banks, from debt write offs. On the day that the rescue package was agreed on, shares of French banks rose by up to 24 percent. Looking at that, you can see what this was really about -- namely, rescuing the banks and the rich Greeks.'
- Karl Otto Pöhl, Former Central Bank Head (
Euro Bailout Plan is all about Rescuing Banks and Rich Greeks -
Der Spiegel)</blockquote>