Bloomberg
July 21, 2011
Euro zone leaders will meet on Thursday to discuss a second bailout of Greece and how to stop the region's debt crisis from spreading to Spain and Italy.
Below are the main options which officials have been discussing in the run-up to the summit.
NEW FINANCING FOR GREECE
The leaders are likely to agree on a new round of financing for Greece that would extend to mid-2014, supplementing the 110 billion euro ($156 billion), three-year bailout which was launched in May last year.
The second bailout is expected to total around 110-120 billion euros. Some 30 billion euros of that amount would come from asset sales by the Greek government; the remainder would be divided between emergency loans from the European Financial Stability Facility (EFSF), which is the euro zone bailout fund, loans from the International Monetary Fund, and a contribution from the private sector in the form of debt relief.
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