Cannot anybody in the EU spot that this is contradictory claptrap?

The following is the conclusion of an article in Der Spiegel on rolling over Greek debt. I do not expect any answer to the question posed in this post's headline!

But the ratings agency operate according to their own logic. A current statement by Standard & Poor's says that the agency would have no problem with a debt swap if it took place on a purely voluntary basis. If, however, default is possible -- as is the case in a country like Greece -- and a rating has already fallen, then "we may conclude that investors have been pressured into accepting because they fear more-adverse consequences were they to decline the exchange offer." In other words, investors would only agree to a swap because they fear the issuer would fail to meet its original obligations. Thus, the rescue operation could actually be interpreted by the agencies as a prediction of insolvency. If that were to happen, Greece would be considered insolvent in the eyes of the financial markets and would be unable to raise money through private investors for some time to come.
Now, however, a compromise appears to be taking shape. It appears that the German government would be willing to agree to the voluntary participation of the private sector with the condition that as much of the sector come on board as possible. "It is possible to organize the participation of private creditors on a voluntary basis," Belgian Finance Minister Didier Reynders said. "Then Germany would also be able to agree."