The Greek debt is not viable, unless there is a new "haircut" is the message from a study published by DZ bank, which believes the IMF assessments are over-optimistic.

The Greek debt will fluctuate around 160% of GDP, as long as the present interest rates are maintained , is the point the bank's economist Daniel Lenz made to German newspaper "Die Welt." Dr. Lenz added that debt will be at 143% in most optimistic scenario, according to which starting in 2014 creditors will forgo interest payments.

"It is in the interests of Germany to aid Greece, so that the whole of the Eurozone does not destabilize," noted chancellor Angela Merkel in an interview published in the newspaper "Magdeburger Volksstimme", adding that aid is given in return for reforms and austerity.

What is the real concern of the Staff of the German Chancellor?

The debate over the Greek debt haircut continues in German media but what seems to be of a greater concern for Merkel’s team is the political strength of the Greek government before and after the German elections.

For the second time in a week the German Chancellor said she does not see a new haircut for Greece, according to Deutsche Welle. In today's interview with the Ruhr Nachrichten newspaper, Merkel says "no, I do not see such a new haircut for Greece. We take one step at a time and we do not hide the fact that a lot of things should change in Greece, but on the other hand, we see clear progress and recognize it. In some areas things in Greece are going much better than a year ago."