Der Spiegel is reporting that German government officials doubt any more bailout money can save Italy, even if the current European Financial Stability Fund was tripled in size.

German officials have consistently said government finance reforms must come through spending cuts, and tax reform, not taking on more loans.

Currently the European Financial Stability Fund has $627 billion (440 billion Euros), and Germany says even if that was somehow tripled it wouldn’t be enough to save Italy.

Earlier in the week the European Central Bank started buying more government bonds from smaller European countries, but refused to buy any bonds from Italy and Spain (an indication that the bank has little confidence in those countries paying them back).