Has Angela Merkel undergone a conversion, from the scourge to the saviour of southern Europe?

According to the German magazine Der Spiegel the German chancellor has made up her mind that if Greece leaves it will cost Germany more than if it stays.

She has aligned herself with French President Francois Hollande rather than the German Central Bank. Der Spiegel even suggests that the upcoming Troika report will "undoubtedly conclude that Greece can remain in the Eurozone".

Artur Fischer, head of the Berlin Stock Exchange, told Today programme business presenter Simon Jack that though Mrs Merkel has always said that Greece needs to implement its cost cutting measures, she "supported the ECB (European Central Bank) decision to buy sovereign bonds" which would provide assistance to countries in financial difficulty.

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