Bloomberg : Merkel Eschews ‘Uncontrolled Greek Insolvency’, expects Greece to qualify for the next tranche , mentions European Stability Mechanism allowing for orderly defaults from 2013 , but not now .

No thanks: Merkel "doesn't want to be responsible for sparking contagion

Chancellor Angela Merkel said, “Germany can’t be successful in the long run if Europe doesn’t do well at the same time.”
see http://www.bloomberg.com/news/2011-09-13/merkel-says-uncontrolled-greek-insolvency-must-be-avoided-radio-reports.html