Germany's opposition leader Peer Steinbrueck criticized Chancellor Angela Merkel for being less than upfront to taxpayers with regard to the planned writedown on Greek debt.

"As such, the illusion about not being a union of joint liability would burst like a bubble - possibly even before the federal elections," Steinbrueck told the German newspaper Wirtschaftswoche.

Merkel has been enjoying the support of electoral public for two terms due to the impression that her administration has insulated the country from the euro debt crisis that started in Greece in 2009. She is on pace to win her third term in office on Sept. 22.

But her election could suffer a hit if the public will side with Stienbrueck on the issue. Analysts believe that Europe has to write off some of the bailout loan for Greece to help it get back on its feet. 

Stienbrueck said Merkel should tell the German taxpayers that they will not be "excluded in any way" if the writeoffs continue.