German Chancellor Angela Merkel is now ready to do whatever it takes to keep Greece in the Eurozone, according to a report by Der Spiegel that says that she has told her 'inner circle' that 'we must find a solution.'

Merkel now considers the political costs of Greece's withdrawal from the monetary union to be too high as it could cause a domino effect that might hit the likes of peripheral countries such as Italy and Spain, according to her advisers.

The newspaper said that Merkel wants to avoid a third bailout for Athens because she fears it would not pass in the German parliament. Instead, Berlin is looking to adjust the current bailout programme.

Among the possibilities would be to frontload the funds, giving larger amounts in near-term tranches that would then be reduced in later payouts in order to make up the balance.

JM

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