IT'S NOT JUST peripheral countries who put some makeup on their numbers: Germany's Exposure To Debt Crisis Above Govt Estimates.

In a report to a parliamentary finance committee last week, Schaeuble included only the risks from German contributions to the European Financial Stability Facility (EFSF) and the European Stability Mechanism (ESM).

He did not include German's 20% contribution to the E60 billion European Financial Stability Mechanism (EFSM), or bilateral credits to Greece via the KfW Development Bank that amount to E15.2 billion, FAZ reported.