At the same time, the market was responding to rumors that Deutsche Bundesbank President Jens Weidmann was resigning.
The German Bundesbank president also made hawkish comments on the EU bailout process.
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Though German Chancellor Angel Merkel has supported the plan, many in Germany, including the Bundesbank President Jens Weidman, does not.
But Ernst Welteke, who was Bundesbank president from 1999-2004, told the BBC that none of the eurozone's problems would be solved if Greece left.
Although Mr Weidmann has just one vote on the 23-strong governing council at the European Central Bank, his voice as Bundesbank president carries great weight among other eurozone policy makers, especially from northern countries.
But what made him really cross was the Bundesbank President, Jens Weidmann, last week dismissing Monti's proposals to use the two rescue funds, the EFSF and the ESM, to buy the sovereign bonds of countries like Italy or Spain to keep their borrowing costs at reasonable levels.
On the very same day of the Deutsche Bank report Herr Dr. Jens Weidmann, president of the Bundesbank, gave a speech entitled Money Creation and Responsibility.
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In Germany, Ernst Welteke, the president of the Bundesbank, weighed in and pronounced that the shrinking growth gap in the US and Europe was forcing the euro to head "in another direction".
Without such a federation, can the single currency survive, I asked Helmut Schlesinger, another influential central banker who has seen the odd financial crisis at close quarters and was president of the Bundesbank when sterling was forced out of the European Exchange Rate Mechanism in 1992.
The President of the German Bundesbank, Jens Weidmann, warned that the bloc was "constantly mutualising risks and weakening the agreed rules".
The president of the German Bundesbank, Jens Weidmann - a former economic adviser to Chancellor Merkel, and an increasingly influential player in the eurozone crisis - has been indicating the kind of bargain Germany would demand.
In Europe, ECB President Mario Draghi politically outmaneuvered the hawkish Deutsche Bundesbank, successfully announcing a program authorized to buy unlimited sovereign debt from troubled nations like Spain, Italy and (maybe) Greece.
Hans Tietmeyer, president of Germany's central bank, the Bundesbank, is standing by his view that unnecessary interest-rate cuts could be dangerous.
Christian Noyer, the vice president of the European Central Bank, as well as figures from the mighty German Bundesbank, don't want any countries to use the euro until they have painfully satisfied all the Maastricht Treaty conditions, like balancing the government budget, or at least coming reasonably close.
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