Merkle promised NO BAILOUTS in 2010 - SHE LIED

In the run up to our own referendum on brexiting from the EU it is worth recalling what Mrs Merkle told Germans in the run up to the Greek crises back in 2010:

"We have a Treaty under which there is no possibility of paying to bailout states." ANGELA MERKEL, German Chancellor 1 March 2010   

Article 125 of the EU Treaty is unequivocal: '
The Union shall not be liable for, or assume the commitments of, central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of any Member State.'

This clause was no mere technicality. It was on the basis of its promise that the Germans agreed to join the euro in the first place in 2002.

The French were not so reticent after bailouts became the norm. Two members of the French government let the cat out of the bag in a most boastful manner:

'[Bailouts are] expressly forbidden in the treaties by the famous no-bailout clause. De facto, we have changed the treaty.' - PIERRE LELLOUCHE French minister for Europe 2009-I0, 27 May 20I0.
'We violated all the rules because we wanted to close ranks and really rescue the euro zone. The Treaty of Lisbon was very straightforward. No bailouts.'? CHRISTINE LEGARDE French finance minister November 2010